AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

TOKYO: Japan’s Nikkei share average fell on Friday after a stronger yen weighed on export-oriented stocks, while gains in chip-related stocks limited losses.

The Nikkei was down 0.89% at 36,507.1 by the midday break, after opening 0.13% higher. For the week, the index is set to rise 1.21%.

The broader Topix lost 0.84% to 2,570.71 and is poised to post a 0.19% weekly decline.

“The stock market has been so closely linked with the currency market because investors are worried about the impact of the yen rising below 140 to the dollar on corporate earnings,” said Kentaro Hayashi, a senior strategist at Daiwa Securities.

“But we expect domestic firms can boost their profits even as the yen rises to around 130. So the market might be too sensitive to the yen’s move.”

The yen rose against the dollar in early trade, hovering close to an 8-1/2-month high of 140.71 it touched on Wednesday. Rubber makers fell 1.93% to become the worst performers among the Tokyo Stock Exchange’s (TSE) 33 industry sub-indexes.

The automakers’ index fell 1.27%, with Toyota Motor and Honda Motor losing 1.75% and 1.27%, respectively. Entertainment company Konami Group fell 4% to become the biggest loser on the Nikkei.

Japan’s Nikkei rallies on Wall Street gains

Heavyweight Fast Retailing, the owner of the Uniqlo brand, fell 1.12% to drag the Nikkei the most.

Chip-related stocks rose, with Advantest climbing 0.54% and Disco rising 1.14%.

Of more than 1,600 stocks trading on the TSE’s prime market, 22% rose, 73% fell, while 3% traded flat.

Comments

Comments are closed.