Japan: Stocks fall for 3rd day as yen rises against dollar

[TOKYO] Japanese stocks fell for a third day after the dollar continued to tumble against the yen as investors became more certain the Federal Reserve will hold off on raising US interest rates. Electrical appliance makers and shippers led losses.

The Topix index dropped 0.4 per cent to 1,465.28 as of 9.01 am in Tokyo, with three shares falling for every two that rose. The Nikkei 225 Stock Average declined 0.6 per cent to 17,783.02. The yen traded near a seven-week high of at 118.72 per dollar after strengthening for the past three days, reducing the outlook for overseas earnings by Japanese exporters.

BLOOMBERG