Stronger yen drags Tokyo stocks down to further losses
Tokyo - Japanese markets extended losses Wednesday on the yen's advance against the US dollar. Investors were selling also because worries grew on the US economic outlook following weak retail sales reports in March.
The benchmark Nikkei 225 Stock Average was down 74.33 points, or 0.84 per cent, to 8,768.35.
The broader Topix index of all first-section issues declined 9.27 points, or 1.1 per cent, at 834.15.
Tokyo investors sold mainly export-oriented issues as the stronger yen affects Japanese firms' earnings.
On currency markets at 9 am (0000 GMT), the dollar traded at 98.99-99.02 yen, up from Tuesday's 5 pm quote of 99.63-64 yen.
The euro traded at 1.3265-70 dollars, down from late Tuesday's quote of 1.3288-90 dollars, and at 131.33-36 yen, down from 132.39-43 yen. (dpa)
