Monexnews-Japan's Nikkei stock Index moved down Friday, down from as high as 4-1/2 years in the previous day's return-related debt problems concern Cyprus, while the strengthening Yen hit exporter sector.
The Nikkei dropped 0.9 percent to 12, 522.05, down from the previous day's high at 12, 650.26, the highest level since early September 2008 daily.
The Topix index fell 0.7 percent to 1, 051.07.
(AR)
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Monexnews-the U.s. Dollar rose against the yen and other currencies of Japan on Monday following a report that the countries of the G-7 is considering whether to issue a statement to avoid a global currency war.
Tension in the currency market has been rising lately following an attempt of the Government of Japan to prop up the economy and want to end deflation. Officials in Japan said they were not manipulating the yen, however, their efforts resulted in a weakening of the currency sharply in Japan, which makes Japan's exports more competitive in a foreign country.
Two officials from the G-20 said on Reuters that the statement from the G-7 reaffirms their commitment to ensure the value of the currency, which is likely to be released ahead of the meeting of G-20 finance ministers and central bankers in Moscow on Friday.
(fsyl)
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