Market Report – Yen Surges, Nikkei Slides

In today’s market report… Asians markets led by Japan declined Wednesday, as exporters fell sharply as the yen hit a new 15-year high.

Honda Motor and Sony were among Japanese firms tumbling with the yen at the 83 levels to the dollar and rising.

The yen has gained 11 percent against the dollar so far this year. But the Japanese government has not intervened since 2004.

The euro was also on the defensive, as renewed fears about the continent’s banking system weighed on sentiment, sending European and U.S. shares lower.

Elsewhere, in Australia, the nation’s largest brewer, Foster’s, rejected a $2.5 billion offer for its wine unit, which it called too low.

Shares in Foster’s were higher after the decision, supporting the overall market.

In Hong Kong, shares of China Mobile declined after Vodafone sold its 3.2 percent stake for $6.5 billion.

Analysts said the sale in China’s top mobile carrier and world’s largest telecoms operator by revenue came earlier than expected.

Foto: NTDTV