Stocks

Nikkei hits more than 2-week low on strong yen, fading Trump trade

Reuters Tokyo | Updated on January 12, 2018 Published on January 16, 2017

nikkei

Japan’s Nikkei share average fell on Monday to its lowest level in more than two weeks, hurt as the yen appreciated on concerns Britain might make a “hard” exit by from the European Union.

Japanese stocks were also hurt as the Trump trade continued to fade for the timebeing, with investors having become less certain about the incoming US president's policies.

The Nikkei ended the day down 1 per cent at 19,095.24 after brushing 19,061.27, its lowest level since December 30.

Tokyo's sub-sectors like steelmakers and shippers, which had benefited from expectations that Trump'sinfrastructure spending plan might boost global demand,underperformed.

The broader Topix and the JPX-Nikkei Index 400 both lost 0.9 percent to 1,530.64 and 13,716.75,respectively.

(Reporting by the Tokyo markets team)

Published on January 16, 2017
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