BANGKOK (AP) — Japan's stock market dived Monday after the yen reversed some of its recent fall against the U.S. dollar. Stocks elsewhere were mixed as investors tried to sort out conflicting indicators about the health of the global economy.
The Nikkei 225 shed 3.2 percent to close at 14,142.65, after its stalwart export sector was hit with wide-ranging losses. The benchmark in Tokyo has been on a tear, rising 36 percent since the beginning of the year. The yen's steady fall against other major currencies has been a major market propellant but it reversed some of that decline Monday after reaching 103 to the dollar last week.
The yen's recent weakness has been a byproduct of the economic stimulus policies embraced this year by Prime Minister Shinzo Abe, who has embarked on an aggressive campaign to lift consumer prices and encourage borrowing and spending. As part of that effort, Japan's central bank is flooding its financial system with money, helping reduce the value of the yen.
