Warwick Ventures reports that Japan’s Nikkei 225 Average closed below 10,000 for the first time in two months on Thursday as weak US jobs and manufacturing data aggravated concerns about the impact of the strong yen on exporters.
The Japanese currency hit an eight-month high against the dollar this week, making Japanese exports more expensive for consumers in the world’s largest economy. The Nikkei declined 1.5 per cent to 9,978.64, its lowest close since July 24. The broader Topix index fell 1.5 per cent to 896.12.
A similar far was observed by Warwick Ventures analysts in Seoul. The Kospi index recorded its biggest drop in six weeks with exporters falling particularly sharply on concerns about the strength of the won, which hit its highest level in a year on Thursday.
