22-May-2025      14:52

Japanese markets end lower as yen hits new two-week high

Japanese markets fell notably as the yen hit a new two-week high against a broadly weaker dollar and Japan's 10-year government bond yield climbed above 1.55 percent, edging closer to levels last seen in 2008.

Investors ignored government data that showed Japan's core machinery orders rose 13.0 percent in March from the previous month.

Meanwhile, in a rare and explicit statement, U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato agreed on Wednesday that the dollar-yen exchange rate currently reflects fundamentals.

The Nikkei average fell 0.84 percent to 36,985.87, hitting a two-week low. The broader Topix index settled 0.58 percent lower at 2,717.09.

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