Tokyo: Nikkei stumbles to 5-week low as Brexit woes sap risk appetite

[TOKYO] Japanese stocks stumbled to a five-week low on Monday, marking a third straight day of losses, as Brexit woes sapped risk appetite and hit equities globally.

Continuing strength in the safe-haven yen, which advanced to a six-week high versus the US dollar and scaled a three-year peak against the euro, put further pressure on Tokyo equities.

The benchmark Nikkei share average lost 3.5 per cent to 16,019.18 points, its lowest since May 6.

The Nikkei was dragged down by declines in index heavyweights like casual clothing retailer Fast Retailing Co Ltd and factory automation robot maker Fanuc Corp.

The broader Topix fell 3.5 per cent and the JPX-Nikkei Index 400 shed 3.4 per cent.

REUTERS