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Japanese shares plunged nearly 3 per cent on Friday, falling for the third consecutive trading day, as export-linked shares were pulled down by the yen’s rise against major currencies.
The benchmark Nikkei 225 Stock Average lost 432.95 points, or 2.97 per cent, to end at 14,129.98 while the broader-based Topix index was down 35.26 points, or 2.93 per cent, at 1,167.06.
For the week, the Nikkei fell 3.15 per cent and the Topix was down 3.71 per cent.
On currency markets at 3 pm (0600 GMT), the dollar traded at 98.75-76 yen, down from Thursday’s 5 pm quote of 99.98-99 yen.
The euro was quoted at 131.12-14 yen, down from 132.25-29 yen late Thursday.
A stronger yen makes Japanese goods less competitive overseas and erodes repatriated revenues.
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