Yen Strengthens, Nikkei Slips Slightly
Japanese stocks opened slightly lower as a strengthening yen raised investor concerns that corporate profits—particularly exporters—could be pressured. The Nikkei fell around 0.2% to 52,780.86 in early trading.
The automotive and pharmaceutical sectors led the decline. Nissan fell around 2.2%, while Otsuka Holdings fell around 4.0%. A stronger yen usually acts as a brake on companies that sell heavily overseas, as export revenues can appear smaller when converted.
In the currency market, USD/JPY was trading around 154.16, slightly below the closing level on the Tokyo stock market on Monday. Market participants are now focused on monitoring comments from Japanese officials on the yen and awaiting details of Prime Minister Sanae Takaichi's economic plans ahead of the general election in early February. (asd)
Source: Newsmaker.id