"The market is reflecting concerns an economic slowdown, especially in developing nations, will damage exporters"
- Goya Nakao, a senior investment manager at Sompo Japan Nipponkoa Asset Management Co.
Japanese stocks fell for a fifth straight day on Wednesday after the yen rose to the highest level in more than four weeks against the single currency, damping earnings outlook for exporters.
The Nikkei 225 Stock Average edged lower 0.08 per cent, or 6.73 points, to 8,851.00. The broader Topix Index slid 0.17 per cent, or 1.31, to 757.29.
"The market is reflecting concerns an economic slowdown, especially in developing nations, will damage exporters," said Goya Nakao, a senior investment manager at Sompo Japan Nipponkoa Asset Management Co.
"The yen's level is within companies' estimates, but there's a lingering upside risk for the currency."
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