Toyota Motor shares fell around 4% in Tokyo trading on the 8th, while the yen briefly surged to the ¥152 range. Selling spread among export-related stocks on concerns over deteriorating profitability, prompting caution over weaker earnings.
The Nikkei 225 fell for the first time in 3 trading days in Tokyo trading on the 8th, closing down ¥1,130.51 from the previous day at ¥65,269.33. Although the index briefly edged higher in the morning, renewed uncertainty over the situation in the Middle East weighed on the market, and the decline spread in the afternoon.
The yen briefly surged to the ¥152 range against the U.S. dollar, and selling predominated among export-related stocks on concerns over deteriorating profitability. Among individual stocks, automotive-related shares, including Toyota Motor, weakened and weighed on the broader market. The impact of external information, including Bloomberg, was also reported.
As indicated in the headline, Toyota Motor shares fell approximately 4%, and market observers said that the yen's strongest level in six months had heightened concerns over weaker earnings. Investors are watching the outlook for corporate earnings and movements in foreign exchange rates.