Nikkei Average Falls in Morning Session, Drops Over 2% at One Point on Stronger Yen

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Summary · why it matters

The Nikkei Stock Average fell in the morning session on the Tokyo stock market, closing at 63,240.51 yen, down 1.74 percent from the previous trading day. As the yen strengthened in the foreign exchange market, selling intensified, particularly in export-related stocks, and the Nikkei at one point dropped 2.58 percent to 62,703.47 yen. The dollar briefly fell to the lower 155 yen range, and Finance Minister Satsuki Katayama referred to the coordinated Japan-U.S. intervention on July 31. Kioxia Holdings and TDK were firm on the back of their earnings announcements, while Casio Computer hit its daily limit up. The TOPIX ended the morning session down 2.17 percent at 3,916.61 points, and trading value on the Tokyo Stock Exchange Prime Market was 6.430933 trillion yen.

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