Japanese stocks declined in Tuesday morning trading as exporters were dragged down by a stronger yen.
The benchmark Nikkei 225 Stock Average lost 85.0 points, or 0.92 per cent, to trade at 9,181.78, while the broader Topix index was down 4.81 points, or 0.57 per cent, at 832.08.
Japanese shares opened lower with the Nikkei hitting a seven—month intraday low as the yen strengthened against the dollar and the euro.
On currency markets at 9 am (0000 GMT), the dollar traded at 87.49—53 yen, down from Monday’s 5 pm quote of 87.84—86 yen.
The euro traded at 1.2506—2509 dollars, down from 1.2532—2534 dollars Monday, and at 109.42—46 yen, down from 110.08—12 yen.
Japanese exporters are a driving force for the world’s second— biggest economy. A stronger yen makes Japanese exports less competitive and erodes overseas earnings when revenues are repatriated.
