Tokyo stocks ended sharply lower Thursday, pushed down by the yen’s strength and concerns about China’s slower economic growth. The slide erased the previous day’s gains that came after the Bank of Japan decided to further ease monetary policy.
The Nikkei Stock Average finished at 9,086.98, down 145.23 points, or 1.57%, falling below 9,100 for the first time since Sept. 13. The decline was the steepest since July 23, according to the (Nikkei.com) website.
Exporters lost ground as the yen strengthened to a one-week high against the greenback.
Cyclical issues also fell following the release of the HSBC Flash China Manufacturing Purchasing Managers’ Index for September, which underscored the slowdown in China’s economic growth.
The trading value on the first section of the Tokyo Stock Exchange reached 1.29 trillion yen, surpassing 1 trillion yen for the fourth straight session, the longest streak since the seven-session run from May 31 to June 8.