Market Report – Yen Hits 14 Year High

The yen powered to a 14-year high against the U.S. dollar Thursday, pushing shares of Japanese exporters broadly lower.

Major firms like Panasonic and Sony eased, as the repatriated profits of the firms decline with the Japanese currency’s appreciation.

Japan’s finance minister says he’s watching foreign exchange market moves closely, while gold again hit another record high nearing $1,200 an ounce.

Toyota shares were down slightly after the company said it would fix accelerator pedals in four million cars and trucks—the automaker’s largest ever safety recall.

Japan’s Asahi Glass said it would raise up to $1.1 billion by issuing bonds to boost its flat screen TV and solar panel capacity. And that sent its shares tumbling.

In Hong Kong, the debut of China’s Minsheng Bank fell below its $3.9 billion IPO price, as demand for the nation’s No.7 lender waned.

Share trading across the region was subdued ahead of the U.S. Thanksgiving holidays, with many eyes on „Black Friday“ Christmas sales for indications about the U.S.’s economic strength.

(NTDTV)