Weak yen turns from boon to bane for Japanese stocks

Japan's share in global exports has halved since 1998 as production moves offshore

20220613N cars loading at japan port

High-value-added exports like cars tend not to decline in price when the yen weakens. (Photo by Yukihiro Takefuta)

SETSUO OTSUKA, Nikkei financial policy and markets editor, and KOSUKE IGUCHI, Nikkei staff writer

TOKYO -- When the yen weakens, the stock market rallies. This long-held rule of thumb no longer applies as Japan is not the export powerhouse it once was.

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