"Investors fled to sell after the large drops on Friday and Monday" on Wall Street, said Toshihiko Matsuno, analyst at SMBC Nikko Securities. As Wall Street continued its record-setting advances, Tokyo's Nikkei had also hit 26-year highs on the recovering global economy and robust corporate earnings. Wall Street stocks plunged in chaotic trading Monday, as the Dow's gains for 2018 were erased in a brutal pullback from months of stock market euphoria that had been acclaimed by President Donald Trump. A strong yen hits Japanese exporters as it makes their products less competitive abroad and erodes profits when repatriated. Sony lost 4.0 percent to 5,345 yen and Nintendo plunged 4.60 percent to 44,750 yen.

Source: The Nation Bangkok February 06, 2018 01:18 UTC