Tuesday, February 9, 2016

NIKKEI -5%, here we go again!

The Nikkei 225 tumbled, closing down 918.86 points, or 5.40 percent, at 16,085.44, falling for five of the past six sessions.

The dollar-yen pair was down 0.97 percent at 114.73, tapping its lowest level since November 2014. Japan's Finance Minister Taro Aso said on Tuesday that the yen's moves were "rough," adding that he'd be watching it closely, Reuters reported.

The 10-year Japan government bond yield (JGB) fell below zero for the first time, likely weighed by safe haven flows. Bond prices move inversely to yields.

Exporters Toyota, Nissan, Honda and Sony closed down between 6.12 and 7.21 percent; a stronger yen is a negative for exporters as it reduces their overseas revenue when converted the into local currency.

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Submitted February 09, 2016 at 09:04AM by StockJock-e http://ift.tt/1Lel8b6

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