Japanese Stocks Decline Amid Solid Yen

New York, May 1 (FinanceEnquiry.com) – On Tuesday, benchmark index of Japan dropped, as a stronger yen impacted the shares of exporters negatively. However, elsewhere markets were up in holiday-thinned trading following data that reflected a moderate rise in the factory outcomes in China.

In early trading, Britain’s FTSE grew 0.3 percent to 5,753.60, while the Dow Jones industrial futures 0.1 percent were higher at 13,168 and the S&P 500 futures were up slightly to 0.1 percent to 1,394.40. In Tokyo, the Nikkei Stock Average dropped 1.8 percent to close at 9,350.95, while Yamaha Motor fell 6.9 percent and Ricoh reported a loss of 5.7 percent. In New York, the dollar skidded to ¥79.77 from ¥79.81 on Monday. However, the euro rose from $1.3243 to $1.3271.

On the New York Mercantile Exchange, the benckmark oil for June delivery went up 3 cents to $104.91 per barrel in electronic trading and the contract slipped 6 cents to end at $104.87 per barrel. The US monthly jobs figures for April, yet to be released Friday, and the second round of France’s presidential election on Sunday are eagerly awaited by the traders. 

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