Tokyo stocks lost 2.56 percent Wednesday as the yen rebounded, while Boeing Dreamliner suppliers tumbled after two Japanese airlines grounded their fleets of the troubled next-generation aircraft.
The benchmark Nikkei 225 index gave up 278.64 points to 10,600.44 while the broader Topix index of all first-section shares lost 2.00 percent, or 18.11 points, to 888.11.
"The market could be at a turning point, as the resurgent yen sparks selling," said Investrust CEO Hiroyuki Fukunaga.
In forex markets, the dollar slipped to 88.07 yen against 88.80 in New York Tuesday afternoon, while the euro fetched 117.00 yen against 118.14 in US trading.
A weaker yen is good for Japan's exporters -- and tends to boost their shares -- because it makes their products more competitive overseas, while strengthening tends to weigh on the local stock market.
The unit's rebound came in the wake of Japan's economy minister warning Tuesday over the currency's rapid decline, saying it could hit consumers by making imported goods more expensive.
Meanwhile, All Nippon Airways (ANA) and Japan Airlines (JAL) were mixed after an ANA Dreamliner flight made an emergency landing in Japan, the latest in a string of problems to hit Boeing's new aircraft.
ANA shares lost 1.62 percent to 182 yen in Tokyo trade while Japan Airlines ended up 1.80 percent at 3,675 yen.
The two airlines -- Japan's biggest biggest -- grounded their Dreamliner fleets Wednesday in the wake of incident.
Dreamliner suppliers took a hit with Mitsubishi Heavy down 3.23 percent at 478 yen, battery maker GS Yuasa tumbling 4.46 percent at 321 yen and Toray Industries, which supplies lightweight carbon fibre materials for the plane, falling 4.13 percent at 510 yen.
Boeing shares ended up 0.51 percent to $76.94 on Tuesday in New York, before news of the latest safety scare.
The 787 Dreamliner has suffered more than a week of bad news that has prompted investigations by aviation regulators in Japan, India and the United States, Boeing's home market, although the US manufacturer insists the plane is safe.
Analysts said the impact on the Japanese carriers, two of the Dreamliner's biggest buyers, may be limited unless there are technical defects with the aircraft and regulators probing the incidents order major repairs.
"That would have a really grave impact because both JAL and ANA plan to put the aircraft into their European and American routes to compete with LCCs (low-cost carriers)," said Waseda University professor Hajime Tozaki, an expert on aviation policy.
Investors largely shrugged off a better-than-expected 3.9 percent on-month rise in November Japanese machinery orders released Wednesday. The data is seen as a leading indicator of corporate capital spending.
US stocks were mixed overnight after the release of upbeat retail sales for December, with the Dow Jones Industrial Average gaining 0.20 percent to 13,534.89 while the tech-rich Nasdaq Composite fell 0.22 percent to 3,110.78.
AFP
Wed Jan 16 2013
AWANI Ringkas: Menambah baik sistem pakar perubatan
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
AWANI Ringkas: Kes bunuh Nur Farah Kartini
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
![Hamidin terkilan Pan-gon letak jawatan Hamidin terkilan Pan-gon letak jawatan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-05/41714696494_HamidinMohdAminK.jpg)
Hamidin terkilan Pan-gon letak jawatan
Ini kerana Pan-gon, yang mula mengemudi skuad kebangsaan sejak 2022, sebelum ini dengan penuh komited menyatakan mahu terus mengendalikan Harimau Malaya sehingga tamat kontraknya pada Disember 2025.
AWANI Borneo [17/07/2024] - Kebakaran awal pagi | 1.3 juta tenaga buruh | 829.4 kilometer
Awani Borneo 17 Julai 2024 bersama Jasmine Abu Bakar;
1. Wanita melecur, lapan rumah musnah dalam kebakaran di Tawau
2. 60 peratus tenaga buruh di Sabah belum berdaftar dengan KWSP
3. RM32.8 juta setahun diperuntukkan bagi penyelenggaraan Pan Borneo
1. Wanita melecur, lapan rumah musnah dalam kebakaran di Tawau
2. 60 peratus tenaga buruh di Sabah belum berdaftar dengan KWSP
3. RM32.8 juta setahun diperuntukkan bagi penyelenggaraan Pan Borneo
RM32.8 juta setahun selenggara rutin Lebuh Raya Pan-Borneo
Kementerian akan memperuntukkan sebanyak RM32.8 juta setahun bagi pelaksanaan penyenggaraan rutin di Lebuh Raya Pan-Borneo secara berperingkat mengikut serahan bagi penyenggaraan selepas kontrak projek siap sepenuhnya.
38 peratus isi rumah miskin tegar di Sabah
Rafizi menambah pendapatan Garis Kemiskinan (PGK) Makanan di Sabah juga lebih tinggi iaitu RM1,218 sebulan berbanding kadar nasional sebanyak RM1,198.
![Muhammad Adi disangka hilang, menginap di rumah kawan Muhammad Adi disangka hilang, menginap di rumah kawan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/61721115027_MuhammadAdiLagik.jpg)
Muhammad Adi disangka hilang, menginap di rumah kawan
Seorang remaja lelaki berusia 17 tahun yang dilaporkan hilang sejak tujuh hari lepas telah pulang ke rumahnya di Ampangan Tinggi malam tadi.
Pemenang Jutawan BSN derma 10 peratus kepada gereja
Rezeki tiga bulan menabung di Bank Simpanan Nasional (BSN) berbekalkan modal 10 ribu ringgit telah menukar hidup seorang paderi kepada seorang jutawan.
RM468.7 juta projek infrastruktur basmi kemiskinan di Sabah
Rafizi berkata peruntukan sebanyak RM468.7 juta bagi 2024 telah diwujudkan bagi projek-projek infrastruktur dalam usaha mengurangkan jurang kemiskinan di lapan daerah tersebut.
60 peratus tenaga buruh di Sabah belum berdaftar dengan KWSP
Sebanyak 60 peratus atau 1.3 juta daripada 2.3 tenaga buruh di Sabah belum berdaftar sebagai ahli Kumpulan Wang Simpanan Pekerja (KWSP) dan berisiko tidak memiliki simpanan untuk persaraan.