Japan’s Topix Index Swings After Strengthening U.S. Economy Data

Japanese stocks fluctuated as the yen weakened amid strong U.S. economic data that increased investor expectations for a hike in U.S. interest rates. Drug makers led gains and utilities dropped.

The Topix was little changed at 1,649.41 at the break in Tokyo, heading for a 1.1 percent weekly decline. The Nikkei 225 Stock Average added 0.1 percent to 20,393.32. The yen traded at 123.46 per dollar after falling 0.6 percent on Thursday. Japanese trading may be volatile on Friday as equity-index options and futures contracts expire.

The Japanese yen is weak, though still around an appropriate level to reflect Japan’s fundamentals, said Naoyuki Shinohara, a former top currency official at the finance ministry.

Source : Bloomberg


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