Nikkei falls on stronger yen, disappointing US sales data

Japanese share market declined on Thursday, 14 May 2015, due to yen appreciation against the US dollar and concern over the U.S. economic outlook after weaker than expected April retail sales data. But losses were limited on optimism over domestic companies' solid earnings and forecasts, and expectations for the Bank of Japan's commitment to purchase exchange-traded funds when the market is depressed. The benchmark Nikkei 225 index dropped 194.48 points, or 0.98%, to finish at 19570.24. The broader Topix index of all first-section shares ended down 12.72 points, or 0.79%, up at 1591.49.

The U.S. dollar traded in the lower 119 yen range on Thursday in Tokyo, amid concerns about the U.S. economy stemming from weak economic data. The dollar fetched 119.21 yen compared with 119.20 yen in New York overnight and 119.82-84 yen in Tokyo on Wednesday. The euro was quoted at 136.15 yen against 135.32 yen in New York overnight and 134.84 yen in Tokyo late Wednesday.

Powered by Capital Market - Live News