Nikkei skids to 1-week low in choppy trade

Sentiment soured by stronger yen

Japan's Nikkei share average slipped to a one-week low in volatile trade on Friday, giving up earlier gains as sentiment was soured by a stronger yen and as some investors trimmed their exposure ahead of the weekend.

The Nikkei ended down 1.5% at 14,313.03, the lowest closing level since February 6 after rising as high as 14,678.71. It dropped 1.0% for the week, marking the sixth straight weekly fall.

As US markets are closed on Monday for a holiday, traders said that foreign investors did not want to hold onto big positions before a long weekend.

The broader Topix shed 1.3% to 1,183.82.

 

The JPX-Nikkei Index 400, an index launched this year comprised of firms with high return on equity and strong corporate governance, dropped 1.3% to 10,711.29.