Tokyo stocks closed lower on Wednesday as Japanese exporters were weighed by a stronger yen, a day after the key index closed at a 26-year high. The dollar dropped below the 110-yen mark for the first time since September, trading at 109.87 yen from 110.16 yen earlier in the day and well off the 110.32 yen in New York. “Profit-taking took place as the higher yen against the dollar worked as a negative factor,” SBI Securities said in a commentary. Sony dropped 5.05 percent to 5,442 yen after a brokerage firm downgraded its outlook on the stock. Automakers were among the losers, with Toyota closing down 0.86 percent at 7,673 yen, Honda falling 1.43 percent to 3,994 yen and Nissan easing 0.29 percent to 1,172.5 yen.

Source: The Guardian January 24, 2018 07:07 UTC