Japanese stocks lower as yen jumps against dollar

Asian Market 1

Japanese stocks traded weaker on Monday after an 11 straight sessions of gains as the yen fell sharply against the dollar and oil prices slipped.

Japan’s Nikkei 225 fell 0.82 percent, likely due to the yen strength, which is seen as a negative for Japanese export-oriented stocks. The yen surged more than 1 percent to 111.63 against the dollar as of 10:01 am HK/SIN, well below levels above 113 last week.

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