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Tokyo stocks close lower as yen's rise sees exporters sold

Xinhua, May 13, 2016 Adjust font size:

Tokyo stocks closed down on Friday as the yen's appreciation against the U.S. dollar dented sentiment and saw investors offload export-linked shares that are sensitive to currency swings.

The 225-issue Nikkei Stock Average dropped 234.13 points, or 1.41 percent, from Thursday to close the day at 16,412.21.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 17.08 points, or 1.28 percent, to end at 1,320.19.

With the exception of miscellaneous products and pharmaceutical issues, all issues on the main section retreated into negative territory, with fishery, agriculture and forestry, insurance and metal product-linked shares comprising notable decliners.

The turnover on the last trading day of the week was 2,539.5 billion yen (23.34 billion U.S. dollars). Endit