Tokyo stocks fall on US-Iran uncertainty, dividend-driven buying subsides
TOKYO (Kyodo) -- Tokyo stocks fell Tuesday morning as dividend-driven buying subsided and inflation concerns, fueled by uncertainty over an end to the
Tokyo stocks experienced a decline on Tuesday as dividend-driven buying tapered off and inflation concerns grew, exacerbated by uncertainty surrounding the conclusion of the U.S.-Iran conflict. The Nikkei Stock Average, comprising 225 issues, dropped 570.62 points, or 0.87%, to 65,307.00, while the Topix index declined 62.66 points, or 1.52%, to 4,049.34.
The U.S. dollar remained within the 157 yen range, having rebounded in New York after a drop sparked by reports that Japan's top currency official, Atsushi Mimura, indicated his intention to take action against the yen's excessive devaluation. By noon, the dollar was valued at 157.36-37 yen, compared to 157.35-45 yen in New York and 157.22-24 yen in Tokyo at 5 p.m. the previous day.
Throughout the day, selling across all sectors affected stock prices as investors capitalized on previous gains before the final trading day to qualify for dividends, which occurred on Monday. West Texas Intermediate crude oil futures stayed above $90 per barrel, contributing to inflation concerns, and the 10-year Japanese government bond yield surged past 3%, further impacting the market.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
