Japan- ikkei Plunges more than 2 Per Cent amid Global Selloff
(MENAFN- Qatar News Agency) Japan's benchmark Nikkei 225 Stock Average plummeted more than 2% Monday morning following heavy losses on Wall Street and European markets.
The Nikkei lost 439.92 points, or 2.26%, to trade at 18,995.91, falling below 19,000 for the first time in five months.
Exporters traded broadly lower as the yen rose against the dollar. A stronger yen makes Japanese products less competitive abroad and hurts repatriated earnings.
The dollar traded at 121.75-78 yen, down from Friday's 5 pm quote of 122.89-90 yen.
The Nikkei lost 439.92 points, or 2.26%, to trade at 18,995.91, falling below 19,000 for the first time in five months.
Exporters traded broadly lower as the yen rose against the dollar. A stronger yen makes Japanese products less competitive abroad and hurts repatriated earnings.
The dollar traded at 121.75-78 yen, down from Friday's 5 pm quote of 122.89-90 yen.
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