Markets in Asia dropped on Friday, with the Nikkei tumbling, after a sell-off on Wall Street as oil remained volatile and concerns about how central banks’ easing measures will affect banks’ earnings persisted.
Japan’sNikkei 225, which reopened after a public holiday on Thursday, dropped 4.17 percent. The Nikkei 225 has been on a downward track in recent days, as the yen rapidly strengthened against the dollar. That’s a negative for Japan’s stocks as exporters’ overseas earnings are pressured by a stronger currency when they’re translated back into yen.
As of Wednesday’s close, the index had ended in the red for six of the past seven sessions, and was down 24.70% from its 52-week high set in June 2015.
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