A key Japanese index Nikkei following the results of trading on the Tokyo stock exchange on Thursday fell by 4.8% to 14952,61 points, the Topix index fell by 5.4% to 1196,28 item. The fall in the indexes of the growth of the Japanese currency against the dollar, which reached a maximum of 15 months, according to Bloomberg.
According to the Agency, the Nikkei for the first time in 16 months fell below 15000 points. On February 9, he showed a drop of 5%, reaching the index reached 16140 points. The earlier fall was also connected with the strengthening of the yen. Then the U.S. currency declined to the level of 114,73.
In the course of trading Thursday, the dollar fell to 112,45 yens, at a minimum, the U.S. currency was worth 110,99 yen.
“We have entered another phase in the market. Fluctuations in the dollar-yen are in the spotlight, now controls all the foreign exchange market. We are influenced by currency movements,” said Bloomberg Juicy Waco, senior analyst at Nomura Holdings Inc. in Tokyo.
The growth of the Japanese currency, in turn, occurs because of the increasing speculative trends, says Bloomberg. According to experts Nomura Securities, Maki Sawada, because of the uncertainty in the global markets, investors buy the yen, which is considered a reliable asset.
May intervene the Bank of Japan, as speculation in the foreign exchange market run the risk of damaging almost three-year policy of monetary stimulus, Bloomberg reported. Finance Minister Taro ASO stated that the government monitors the movements of the market and, if necessary, take the necessary steps. After another meeting with Prime Minister Shinzo Abe, the BOJ Haruhiko Kuroda also said it will closely monitor the market movements.
In leaders of falling at the auction on Thursday were companies whose earnings are sensitive to exchange rates. Shares of Subaru and Fuji Heavy Industries Ltd. fell by 9%. Industrial machinery manufacturer Kubota Corp. lost 7.1 per cent. Shares of TDK Corp., more than 90% of the revenues which are the sale of components for smartphones abroad, decreased by 6.2%.