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Japan's Nikkei drops as strong yen and Wall Street losses hit sentiment

ReutersFeb 25, 2025 12:37 AM

- Japan's Nikkei share average fell more than 1% in early trade on Tuesday to its lowest level in just over a month, as a stronger yen and Wall Street losses overnight weighed on sentiment.

The Nikkei .N225 was down 1.6% at 38,157.15 as of 0022 GMT, while the broader Topix .TOPX shed 0.7%.

The yen touched its strongest level against the dollar JPY=EBS since early December on Monday, weighing on exporter shares as the market reopened after a holiday.

The Nasdaq composite closed down more than 1% on Monday, with big technology stocks creating the biggest drag as investors worried about demand for technology supporting artificial intelligence while they waited for results from market heavyweight Nvidia NVDA.O. .N

Elsewhere, Itochu 8001.T, Marubeni 8002.T, Mitsubishi Corp 8058.T, Mitsui 8031.T and Sumitomo Corp 8053.T surged after Warren Buffett said on Saturday that his conglomerate Berkshire Hathaway BRKa.N will likely increase its ownership in the five Japanese trading houses.

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