China
The Japanese yen weakened to 161.93 against the U.S. dollar in New York trading on Monday, approaching its lowest level in about 39 and a half years since December 1986, according to a report by public broadcaster NHK on Tuesday.
Japanese yen drops to 161.93 against US dollar, approaching 39-year low
Tokyo stocks tumbled on Tuesday, with the benchmark Nikkei index falling below the 70,000 mark after snapping an eight-session winning streak, as investors took profits amid concerns over an overheated market.
The 225-issue Nikkei Stock Average ended down 2,565.58 points, or 3.55 percent, from Monday at 69,788.38.
The broader Topix index, meanwhile, finished 104.67 points, or 2.56 percent, lower at 3,990.38.
On the top-tier Prime Market, nonferrous metal, electric appliance, and information and communication issues were notable decliners.
The Nikkei briefly traded higher at the open but soon reversed course as selling pressure mounted after the index had surged more than 8,100 points during its eight-session advance.
Heavyweight technology shares, particularly recent gainers such as Kioxia Holdings Corp. and Tokyo Electron, led the decline. The selloff was partly cushioned as dip-buyers stepped in.
Losses extended in the afternoon, with the Nikkei diving more than 3 percent toward the close.
Tokyo stocks slump on overheating concerns
