Yen keeps rising in growing threat to Abenomics

Tokyo

TOKYO stock prices suffered a further savage drop on Thursday while the yen continued to climb in developments that analysts said threaten to undermine Japanese Prime Minister Shinzo Abe's "Abenomics" policies and to push the Bank of Japan's (BOJ) inflation target further out of reach.

In a day of continuing financial market turbulence which saw Asian stocks and most currencies continue their worrying slide, Tokyo's Nikkei 225 share index slid 2.3 per cent or 423.98 points to 17,767.34 - its worst start to a New Year in two decades.