Yen Rises, Main Japanese Stock Index Falls

The value of the Japanese currency rose to 152 yen against the dollar, benefiting from expectations that the Bank of Japan may normalize its monetary policy soon. The Nikkei stock index logged on Thursday its biggest single-day point fall in eight years, hit by sell-offs of technology issues tracking Wall Street plunges and a stronger yen pressuring exporters. The 225-issue Nikkei Stock Average ended down 1,285.34 points, or 3.28 percent, from Wednesday at 37,869.51, its lowest closing since April 25. The broader Topix index finished 83.26 points, or 2.98 percent, lower at 2,709.86. On the top-tier Prime Market, decliners were led by electric appliance, securities house and insurance issues. Source: Qatar News Agency