Business

Japanese stocks fall as yen strengthens

Man walks past Nikkei board Image copyright AFP

Japan's Nikkei share index fell more than 1% as a rise in the value of the yen hit exporters' shares.

The benchmark Nikkei 225 index closed down 1.6% at 16,596.51.

The dollar hit a one-month low against the Japanese currency, dropping to 100.17 yen from 101.25 yen in US trading.

In China, stocks opened higher on hopes that a launch date of a new trading link between Shenzhen and Hong Kong would be announced soon.

However, shares then reversed direction in afternoon trade. Hong Kong's Hang Seng ended the day flat at 22,910.84, while the Shanghai Composite closed 0.5% lower at 3,110.04.

South Korea's Kospi index ended 0.1% lower at 2,047.76 as it resumed trading after a holiday on Monday.

Australia's S&P/ASX 200 also lost 0.1% to close at 5,532.00, while New Zealand's S&P/NZX 50 Index fell more than 1% to finish at 7,310.67.