Nikkei slides on stronger yen; posts third weekly loss in past month

May 16, 2014

TOKYO (Reuters) – Japanese shares stumbled on Friday, posting their third weekly loss in the past month, hit by a stronger yen, a sharp fall in U.S. bond yields and a second day of declines on Wall Street.

The Nikkei share average fell 1.4 percent on the day to 14,096.59, and lost 0.7 percent on the week.

Falling U.S. bond yields not only tend to drive the dollar down against the yen but also raised concerns that they may indicate slower U.S economic growth.

The broader Topix fell 1.6 percent, while the new JPX-Nikkei Index 400 shed 1.5 percent.

(Editing by Chris Gallagher)

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