Japanese Shares Slide as Commodity Producers Retreat on Oil

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Japanese Shares Slide as Commodity Producers Retreat on Oil

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PT. Equityworld Futures – Stocks in Tokyo fell as commodity producers dropped after oil declined, while investors awaited central bank meetings from the U.S. and Japan next week.

The Topix index lost 0.7 percent to 1,328.73 at the lunch break in Tokyo, with the measure headed for a weekly loss of 0.6 percent. The Nikkei 225 Stock Average slipped 0.5 percent to 16,586.71. The yen traded at 107.15 per dollar after strengthening to as much as 106.26 on Thursday. U.S. stocks fell for the first time in four days yesterday, with the S&P 500 Index slipping from a 10-month high, while oil posted its biggest drop since May 9.

The amount of shares traded in Tokyo have been muted this week with the Bank of Japan’s decision on monetary policy on June 16, a day after the Federal Reserve’s, and the U.K. vote on whether to remain in the European Union on June 23. Just 1.68 billion shares changed hands on Thursday, compared to an average 2.27 billion over the past year.

Source : Bloomberg

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