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The surge in ECB lending "has caused the euro to drop against the yen"
- Kenichi Hirano, general manager and strategist at Tachibana Securities Co.
Japanese stocks closed mixed on Thursday and Euro dropped to a 10-year low against the yen after the European Central Bank balance sheet increased to record 2.73 trillion euros. The Nikkei 225 shed 0.29%, or 24.73 points, to 8,398.89, while the broader Topix rose 0.09%, or 0.67, to 722.12.
The surge in ECB lending "has caused the euro to drop against the yen, fueling investors' concern on the region's debt issues," said Kenichi Hirano, general manager and strategist at Tachibana Securities Co. in Tokyo.
"Some investors are buying cheap stocks as institutional investors have already sold out of Japanese stocks."