Japanese stocks tumble on stronger yen, overseas losses

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Tokyo (dpa) – Japanese shares plummeted Wednesday for the second straight day as market sentiment was undermined by a stronger yen and overnight losses on Wall Street and European bourses.

The benchmark Nikkei 225 Stock Average lost 343.74 points, or 1.89 per cent, to end at 17,891 after falling as much as 2.2 per cent.

The broader Topix index was down 32.3 points, or 2.15 per cent, at 1470.83.

Export-linked stocks traded broadly lower as the yen rose against major currencies. A stronger yen makes Japanese goods less competitive abroad and erodes repatriated revenues.

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