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Japanese shares plunged more than 3 per cent Monday, falling for the fourth consecutive trading day, as export-linked shares were pulled down by the yen’s rise against major currencies.
The benchmark Nikkei 225 Stock Average lost 468.85 points, or 3.32 per cent, to end below the symbolic threshold of 14,000 at 13,661.13.
The broader-based Topix index was down 38.61 points, or 3.31 per cent, at 1,128.45.
Both indices fell for the last three days of last week, bringing the Nikkei down 3.15 per cent over the week, and the Topix down 3.71 per cent.
The drop was attributed to a rise in the strength of the yen, which reached under 98 to the dollar on Monday, the lowest for a month.
A stronger yen makes Japanese goods less competitive overseas and erodes repatriated revenues.
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