Tokyo stocks closed lower on Monday as the yen strengthened against the U.S. dollar in the forex market, leading to a sell-off in exporter-related stocks, especially in the automotive sector.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 200.24 points, or 0.60 percent, from Friday to close the day at 33,231.27.
The broader Topix index, meanwhile, finished 19.87 points, or 0.83 percent, lower at 2,362.65.
Amid speculation about the U.S. Federal Reserve’s potential halt to interest rate hikes and a narrowing Japan-U.S. interest rate differential, the yen strengthened to its highest level in approximately three months.—Xinhua
