By Le Figaro with AFP
Published
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The Tokyo Stock Exchange was in the red on Friday March 24 in the morning, weighed down by the rise of the Japanese currency once morest the dollar, a negative exchange rate movement for Japanese exporting companies. The flagship Nikkei index lost 0.3% to 27,336.09 points around 00:45 GMT and the broader Topix index dropped 0.36% to 1,950.35 points. “The Japanese market should start the session on a bearish note due to the selling linked to the rise in the yen”, Toshiyuki Kanayama commented in a Monex note. Export stocks, such as Japanese automakers, whose low yen flatters overseas earnings, were particularly hurt by the selling moves.
On the side of values
Toshiba: Toshiba shares jumped 5.48% to 4,444 yen. The board of directors of the Japanese industrial and technological group, in crisis for years, accepted Thursday a takeover offer by a Japanese consortium for nearly 2,000 billion yen (14 billion euros). The takeover bid by the consortium led by the private equity fund Japan Industrial Partners (JIP), offering a price of 4,620 yen per share, should be launched at the end of July at the earliest, Toshiba said.
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On the side of currencies and oil
The yen strengthened once morest the greenback, with a dollar trading for 130.63 yen around 0050 GMT once morest 130.85 yen Thursday at 2100 GMT. The euro also fell once morest the Japanese currency, trading for 141.56 yen once morest 141.72 yen the day before. One euro was trading for 1.0834 dollars once morest 1.0831 dollars on Thursday at 9:00 p.m. GMT.
On the oil market, the barrel of American WTI lost 0.77% to 69.42 dollars around 00:40 GMT and the barrel of Brent from the North Sea lost 0.69% to 75.39 dollars.
