Nikkei ends at 3-month low as yen strengthens

TOKYO: Japan’s Nikkei share average ended at a three-month low and posted its biggest daily decline in three years on Thursday as the yen’s gain against major currencies hurt investor sentiment.

The Nikkei fell 3.28% to end at 37,869.51, its lowest close since April 25.

The index extended its losing streak to seven, the longest losing run since October 2021 and posted its biggest daily fall since June 2021.

The broader Topix slipped 2.98% to 2,709.86.

The yen rose to its strongest level against the dollar in 2-1/2 months and scaled multi-month highs against other currencies ahead of next week’s Bank of Japan (BOJ) meeting.