Japan: Nikkei 225 falls while yen rises
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The benchmark Nikkei 225 index closed 1.44% down on Thursday as Japan struggles to cope with the aftermath of last week’s earthquake and tsunami.
The index closed at 8962.67, after a volatile day of trading which saw it slide more than 4% at one point. However, news that G7 countries are to discuss the ongoing problems at the Fukushima nuclear plan caused the market to rally slightly.
Wednesday had seen the Nikkei 225 bounce after losses on Monday and Tuesday in the wake of the unfolding disaster.
In addition, the Bank of Japan has pushed another ¥6 trillion (£47.2 billion) into the markets after the yen climbed to a record high.
The central bank made the move as the yen rose as high as 76.25 against the dollar in Asian trading on Wednesday - the highest it has been since the second world war.
Some ¥5 trillion was injected into the market on Thursday morning, in the form of same-day funds that banks can access immediately, before the Bank of Japan offered another one trillion of one-day funds in the afternoon.
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