Japanese
stocks fell as growing military tension between Turkey and Russia drove
the yen higher, damping the earnings outlook for exporters. Airlines
led losses, while commodity producers gained.
The
Topix index dropped 0.5 percent to 1,597.80 as of 9:01 a.m. in Tokyo,
headed for its first loss in more than a week. The Nikkei 225 Stock
Average lost 0.5 percent to 19,833.35, falling from a three-month high.
The yen traded at 122.50 per dollar after strengthening 0.3 percent
Tuesday following Turkey’s downing of a Russian fighter jet that it
claims was violating its airspace.
Turkey
shot down the plane near its border with northwestern Syria early
Tuesday, drawing an angry rebuke from Russian President Vladimir Putin
and marking the first direct clash between foreign powers embroiled in
the Syrian civil war. Oil prices jumped and the yen climbed.
Source : Bloomberg
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