Japan stocks lose steam as global money pulls back

Hopes for post-deflation growth take hit from weak yen in Q2

20240629N Japan stocks

Currency headwinds are bearing down on Japanese stocks. © Reuters

KENTA SHINOZAKI, Nikkei staff writer

TOKYO -- Japanese stocks have lost momentum after hitting a record high this year, lagging U.S. equities in the just-ended quarter as overseas investors moved to pocket their gains.

The Nikkei Stock Average fell 1.9% in April to June for the first quarterly decline since July-September 2023. The S&P 500 index rose 4%, while the STOXX Europe 600 was flat.

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