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Dec. 16, 2014, 3:54 a.m. EST

Japan stocks slide to six-week low as yen advances

Shanghai stocks buck the weak regional trend

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By Laura He, MarketWatch


Reuters
Japan stocks continued to slide on Tuesday, while most other Asian markets ended lower.

HONG KONG (MarketWatch) — Japan stocks continued to slide on Tuesday, falling to their lowest settlement in more than six weeks, as the yen headed higher against the greenback.

The Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.76%  tumbled 2% to 16,755.32, marking its lowest closing level since the end of October. The broader Topix index /zigman2/quotes/210598092/delayed JP:180460 -0.66%  declined 1.9%.

Meanwhile, the yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.3338% , a traditional safe-haven currency, traded substantially higher against the dollar at ¥117.30 from ¥117.82 a day earlier, as risk-aversion rose on the back of plunging crude-oil prices.

Among market movers, electronics giant NEC Corp. /zigman2/quotes/205173342/delayed JP:6701 -1.41%  sank 4.6%, console maker Nintendo Co., Ltd. skidded 4%, industrial-robot manufacturer Fanuc Corporation /zigman2/quotes/202054799/delayed JP:6954 -2.68%  dropped 3%, and electronics maker Fujitsu Ltd. /zigman2/quotes/208459594/delayed JP:6702 -2.24%  gave up 2.9%.

Other major Asian markets mostly closed lower.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.00% lost 1.6%, after the preliminary version of HSBC’s monthly Chinese manufacturing index showed its first contraction since May.

Elsewhere, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.69%  ended down 0.7%, and South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -0.82%  settled 0.9% lower.

However, on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -4.50% headed higher by 2.3%, extending a three-session winning streak.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,770.36
-175.14 -0.76%
Volume: 0.00
July 16, 2020 3:15p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,579.06
-10.45 -0.66%
Volume: 0.00
July 16, 2020 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.2940
+0.3570 +0.3338%
Volume: 0.0000
July 16, 2020 1:56p
loading...
/zigman2/quotes/205173342/delayed
JP : Japan: Tokyo
¥ 5,580.00
-80.00 -1.41%
Volume: 1.53M
July 16, 2020 3:00p
P/E Ratio
14.30
Dividend Yield
1.43%
Market Cap
¥1539.32 billion
Rev. per Employee
¥26.58M
loading...
/zigman2/quotes/202054799/delayed
JP : Japan: Tokyo
¥ 20,505.00
-565.00 -2.68%
Volume: 893,400
July 16, 2020 3:00p
P/E Ratio
53.71
Dividend Yield
N/A
Market Cap
¥3997.32 billion
Rev. per Employee
¥95.87M
loading...
/zigman2/quotes/208459594/delayed
JP : Japan: Tokyo
¥ 13,120.00
-300.00 -2.24%
Volume: 1.06M
July 16, 2020 3:00p
P/E Ratio
16.59
Dividend Yield
1.37%
Market Cap
¥2687.32 billion
Rev. per Employee
¥28.38M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,970.69
-510.89 -2.00%
Volume: 1.94M
July 16, 2020 4:08p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,010.90
-42.00 -0.69%
Volume: 676,693
July 16, 2020 5:20p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,183.76
-18.12 -0.82%
Volume: 784,637
July 16, 2020 3:33p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,210.10
-151.21 -4.50%
Volume: 49.06B
July 16, 2020 3:01p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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