Market Report – Yen Falls on Intervention Talk

In today’s Market Report… Japan’s Nikkei fell on Friday. It comes after talk of a second round of government intervention to weaken the yen.

The yen eased, but Japanese officials declined to say if they had actually stepped in to the markets again.

A diplomatic spat over disputed islands between Beijing and Tokyo, and its potential impact on business ties between the nations, also weighed on sentiment.

Conflicting reports that China had stopped the export of rare earth minerals to Japan, essential in making many high-tech products, hit shares like Hitachi Metals.

Other Asian share markets were mixed after stocks hit a 5-month high midweek.

Export-oriented technology stocks fell in Taiwan and South Korea, but a jump in transport shares pulled the KOSPI to a higher close.

Hyundai Motor rose over 4% on news it would submit a bid to buy Hyundai Engineering and Construction.

And Sydney stocks declined, with banks leading the drop.

Foto: NTDTV