Tokyo stocks dive on strong yen as Hong Kong, Shanghai extend rally …C0NTINUE READING HERE >>>
Tokyo’s Nikkei index has been battered by a stronger yen.
Photo: Richard A. Brooks / AFP
Source: AFP
Stocks plunged more than four percent in Tokyo on Monday after the yen surged in reaction to Shigeru Ishiba’s election last week as the head of Japan’s ruling party, which boosted expectations the Bank of Japan will continue hiking interest rates.
However, Hong Kong and Shanghai extended their surge as traders cheered more moves by Chinese authorities to revive the country’s battered economy with more support measures for the crucial property sector.
Exporters were the big losers in…
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