TOKYO -- The sharp appreciation of the yen directly hit Japanese stocks on Friday. On the Tokyo Stock Exchange, the Nikkei Stock Average continued to fall as investors withdrew funds from stocks of automakers, machinery manufacturers and other exporters that had been expected to improve earnings on the yen's depreciation.
The benchmark index closed the morning session at 32,305.33, down 552.98 or 1.68% from the previous day's close. In the afternoon session, the declines were further extended, temporarily marking a one-month low of 32,244, down 614 from the previous day, before closing at 32,307.86, down 550.45. The two-day decline exceeded 1,000 points.
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