Nikkei Index Drops 1.7%, Dragged Down by Auto and Electronics Stocks

Deep News
01/26

Japanese stocks declined after the yen staged a significant rebound late Friday. Automobile and electronics shares led the losses. Nissan Motor fell 4.3%, Toyota Motor dropped 3.9%, while Murata Manufacturing declined 4.4% and Renesas Electronics decreased 4.8%. The U.S. dollar was quoted at 155.03 yen, a sharp drop from the 158.66 yen level at the close of Tokyo trading on Friday. Investors are closely watching for details of Prime Minister Sanae Takaichi's economic plans ahead of the general election in early February. The Nikkei Stock Average fell 1.7% to 52,926.53 points.

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