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Japan's stocks hurt by stronger yen | Japan's stocks hurt by stronger yen |
(about 1 hour later) | |
Japan's benchmark Nikkei index fell after stocks on Wall Street closed lower and shares in major exporters were hurt by a stronger yen. | |
The Nikkei 225 ended down 1.3% at 19,046.55, with the yen hitting one-month highs against the dollar. | The Nikkei 225 ended down 1.3% at 19,046.55, with the yen hitting one-month highs against the dollar. |
A stronger yen hurts Japan's big exporters as it makes their products more expensive to buy overseas. | A stronger yen hurts Japan's big exporters as it makes their products more expensive to buy overseas. |
Among the main carmakers, Honda fell 2.3%, Nissan dropped 1.1% while Toyota was down 0.7%. | Among the main carmakers, Honda fell 2.3%, Nissan dropped 1.1% while Toyota was down 0.7%. |
Australia's stock market also closed down despite positive job numbers. | Australia's stock market also closed down despite positive job numbers. |
The country's jobless rate came in at 5.8% in November - down from 5.9% the month before and the lowest reading since early last year. | The country's jobless rate came in at 5.8% in November - down from 5.9% the month before and the lowest reading since early last year. |
The Australian Bureau of Statistics also said 71,400 new jobs were created in the month, which was much better than expected. The Australian dollar rose more than 1% against the US dollar on the news. | The Australian Bureau of Statistics also said 71,400 new jobs were created in the month, which was much better than expected. The Australian dollar rose more than 1% against the US dollar on the news. |
However, Sydney's S&P/ASX 200 index closed 0.8% lower at 5,037.7 after being dragged down by the so-called big four banks, which make up some 30% of Australia's stock market. Among the big four, Westpac shed 2%, while Commonwealth Bank fell 1.7%. | |
Commodity prices weigh | |
In China, the Shanghai Composite index ended lower by 0.5% to 3,455.50, while Hong Kong's Hang Seng fell by the same amount to 21,704.61. | |
Resources shares continued to pull the markets lower as investors remained wary of falling commodity prices. | |
The one bright spot in the region was South Korea's benchmark Kospi index, which closed up 0.2% at 1,952.07. | The one bright spot in the region was South Korea's benchmark Kospi index, which closed up 0.2% at 1,952.07. |
On Thursday, the country's central bank kept its benchmark lending rate at 1.5%. | On Thursday, the country's central bank kept its benchmark lending rate at 1.5%. |