Japan Stocks Slide as Yen Advances Ahead of BOJ, Fed Meetings

Stocks in Tokyo fell, with the Topix index heading for its biggest drop in a week, as the yen’s strength weighed on exporters while investors awaited central bank decisions from Japan and the U.S.

The Topix index lost 0.9 percent to 1,338.53 at the trading break in Tokyo, the most since June 2, with volume 17 percent below the 30-day intraday average. Federal Reserve Chair Janet Yellen indicated on Monday that she’s fairly sure the U.S. economy will improve enough to warrant another interest-rate boost, but was silent on when an increase would be needed. Bank of Japan Governor Haruhiko Kuroda will make a decision on stimulus on June 16, a day after the Fed.

The Nikkei 225 Stock Average slid 0.9 percent to 16,677.84. The yen climbed 0.3 percent to 106.64 per dollar after strengthening 0.4 percent on Wednesday. The Japanese currency has risen about 12 percent this year against the greenback.

Source : Bloomberg

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Japanese Shares Slide as Yen Advances Ahead of BOJ, Fed Meetings

Stocks in Tokyo fell, with the Topix index dropping the most in a week, as the yen’s strength weighed on exporters while investors awaited central bank decisions from Japan and the U.S.

The Topix index lost 1 percent to 1,337.41 at the close, the most since June 2, with volume 18 percent below the 30-day average. Federal Reserve Chair Janet Yellen indicated on Monday that she’s fairly sure the U.S. economy will improve enough to warrant another interest-rate boost, but was silent on when an increase would be needed. Bank of Japan Governor Haruhiko Kuroda will make a decision on stimulus on June 16, a day after the Fed.

The Nikkei 225 Stock Average slid 1 percent to 16,668.41. The yen climbed 0.2 percent to 106.74 per dollar after strengthening 0.4 percent on Wednesday. The Japanese currency has risen about 13 percent this year against the greenback.

Source : Bloomberg

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