LONDON -- (Marketwire) -- Finspreads: Japan's Nikkei fell for a third consecutive day at the close of trading on Wednesday (January 23rd), with shares retreating on the back of a stronger yen.
A stronger yen hit shares in many of the country's exporters, with Toyota dropping by two per cent, and Nikon slipping by three per cent.
Shippers, security companies, insurers, and steelmakers also saw their shares fall.
The drop was the Nikkei's biggest one-day retreat in a week, and took the market even further away from its 32-month high on January 15th.
Monday (January 21st) saw Japan's central bank announce an inflation target of two per cent, also committing itself to an open-ended asset purchasing program. Such decisions were expected by many in the market, but there was concern that it would not begin until 2014, causing the value of the yen to firm.
At the end of trading in Tokyo, the Nikkei had lost 222.94 points, a drop of 2.08 per cent, to stand at 10,486.99 points.
Learn about the markets and find spread betting tips at Finspreads.
Finspreads pioneered browser-based spread betting in the UK in 1999 by being the first provider in the industry to offer real time spread betting access via a browser.
At Finspreads, we understand that each of our clients are different -- and as such, have different levels of trading experience, goals and risk personas. That's why we offer three different types of accounts so you can pick one that best suits your specific needs as a trader. You can view our range of spread betting accounts and read about the benefits of each in our Account Types section.
We support you by offering a range of online spread betting tools and resources as well as an iPhone App that enables full account access from virtually anywhere, plus a dedicated Client Management Team who are on hand at the touch of a button.
Your losses are magnified in exactly the same way as your gains if the market moves against you and can result in losses exceeding your initial outlay. Please ensure you fully understand the risks involved.
P: 08000 96 96 20