Japan's benchmark index, the Nikkei 225 fell by -0.75% on Tuesday's close amid a stronger yen. The national currency has risen by almost +1% this month making export-related products more expensive and consequently hurting those companies' stocks.
Shares of the industrial, consumer and transportation sectors were among the worst performers, with Kawasaki Heavy Industries (-9.24%), Unitika (-8.68%) and Toray Industries (-5.69%) among the biggest losers. On the winners' side, SoftBank Group jumped 10.5% a day after the company announced that it would spend up to 1 trillion yen in buying back almost 15% of its shares. Taisei and Kajima came in second and third with +6.78% and +5.45% gains respectively.
In the Japanese ETF space, Nomura Nikkei 225 Exchange Traded Fund ETF (NTETF, $74 bn AuM) fell by -0.66% on Tuesday. With focus on cars and transportation equipment stocks (highly exported goods), the Nomura Next Funds Topix-17 Automobiles & Transportation Equipment ETF dropped by -1.03%.
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