Tokyo stocks fall on yen rise

26 June, 2019 12:00 AM printer

TOKYO: Tokyo stocks fell on Tuesday as the yen's rise against the U.S. dollar dented exporters, and as concern grew over the U.S.-Japan alliance after a report cast doubt on the future of their bilateral defense treaty.

The 225-issue Nikkei Stock Average ended down 92.18 points, or 0.43 percent, from Monday at 21,193.81.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 4.25 points, or 0.27 percent, lower at 1,543.49.

After Bloomberg news agency reported that U.S. President Donald Trump recently raised with confidants the possibility of withdrawing from a long-standing defense treaty with Japan, Shares dropped sharply in the afternoon. However, the reaction was limited as few felt there was a real risk of Trump ending the alliance, analysts said, reports Xinhua.

By the close of play, mining, securities house, electric power and gas issues comprised those that declined the most, and declining issues outnumbered advancers 1,209 to 821 on the First Section, while 114 ended unchanged.