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Tokyo stocks plummet in morning as strong yen sends exporters lower

Xinhua, May 2, 2016 Adjust font size:

Tokyo stocks plummeted Monday morning, with the Nikkei down more than 4 percent at one point, as the yen's appreciation against the U.S. dollar saw export-linked issues battered.

The finance ministry has expressed concern that speculators are driving the Japanese currency higher.

The 225-issue Nikkei Stock Average dropped 604.03 points, or 3.62 percent, from Thursday to 16,062.02.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 47.59 points, or 3.55 percent, to 1,292.96.

All industry categories on the main section retreated into negative territory by the morning break, with notable decliners comprising electric appliances, transportation equipment, and glass and ceramic product-linked stocks.

Markets in Tokyo were closed on Friday for a national holiday. Endit