Japan Falls as Yen Strengthens

[WriteDown]

Source: WSJ

Japanese stocks retreated Wednesday as worries about the yen's recent strength pressured exporters, while banks lost ground on concerns they might have to raise capital.

Chinese stocks edged higher for a seventh successive session in spite of a broad decline in regional markets after a string of higher finishes recently. Resource sector shares paced the gains in Shanghai and outperformed in some other markets on higher commodity prices.

"Now that equities have rebounded and credit is flowing a little easier, the dollar is hitting the dumps, putting immense pressure on the price of oil and other commodities to go up," said Mike Sander, of Sander Capital Advisors.

Japan's Nikkei 225 Average fell 0.8% to 10312.14, China's Shanghai Composite edged up 0.5% to 2946.26 and Hong Kong's Hang Seng Index lost 1% to end at 20851.04, snapping a four-session rally.

Australia's S&P/ASX 200 ended flat, after an unexpected decline in retail sales hurt sentiment. Taiwan's Taiex fell 0.9%, New Zealand's NZX 50 slipped 0.2%, and Philippines' main index contracted 0.8%. Singapore's Straits Times Index fell 0.6%, while India's Sensex rose 0.4....

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