Tokyo stocks slump as yen firms
Friday, November 26, 2021       08:57 WIB

Tokyo, Nov 26, 2021 (AFP)
Tokyo stocks slumped in morning trade on Friday, weighed down by a stronger yen and with few other fresh cues after US markets closed for the Thanksgiving holiday.
The benchmark Nikkei 225 index dropped as much as two percent in early trade and was down 1.83 percent or 538.87 points at 28,960.41 around 90 minutes into the morning session.
The broader Topix index slipped 1.48 percent or 30.08 points to 1,995.61.
A stronger yen against the dollar was weighing on the market, analysts added.
The dollar fetched 114.93 yen in early Asian trade, against 115.34 yen in London late on Thursday.
The Tokyo market will likely see thin trading volume with a dearth of fresh market-moving events "after the closure of the US market and ahead of a shortened US trading day, with many investors taking holidays," Okasan Online Securities said in a note.
In Tokyo, Mizuho Financial Group was down 0.85 percent at 1,450.5 yen after reports said its CEO will step down later in the day following a series of system glitches over which the Financial Services Agency will reportedly issue an administrative business improvement order.
Nissan was down 1.70 percent at 628.4 yen after a report said it will boost investment in electronic vehicles to achieve a target of EVs and hybrids making up 50 percent of its global sales by fiscal 2030.
Its bigger rival Toyota was down 1.37 percent at 2,083 yen.
NTT was down 1.58 percent at 3,179 yen after a report said the ministry of internal affairs and communications will issue an administrative directive over its mobile unit's recent technical glitch.
Among other major shares, Sony was down 1.61 percent at 14,030 yen, investment giant SoftBank Group was off 2.47 percent at 6,518 yen and Uniqlo casual wear operator Fast Retailing was down 2.35 percent at 72,330 yen.

Sumber : AFP

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