Yen Strength Weighs on Japan's Export-Heavy Industries

The Japanese stock market saw mixed trade on Thursday, with the Nikkei 225 Index declining 0.17% to close at 64,214 and the broader Topix Index gaining 0.5% to 4,102.

The strengthening yen weighed heavily on Japan's export-heavy industries, making domestic assets more expensive for foreign investors and negatively impacting their earnings outlook.

However, equities found some support from a pullback in oil prices after President Donald Trump stated that the recent attacks on Iran would be short-lived.

A stronger yen also led to a retreat in global bond yields as investors continued to assess the inflation and interest rate outlook.