Yen Surge Sinks Japanese Stocks Amid Geopolitical Tensions

Japanese stocks took a hit on Tuesday, weighed down by a surge in the yen and renewed geopolitical tensions. The Nikkei index plummeted 1.7 percent to 65,269.33 points at the close, while the Topix index declined 1.83 percent to 4,050.33 points.

The decline was broad-based, with shares of glass makers and transportation equipment companies among the biggest decliners. The top loser on the benchmark Nikkei index was JTEKT, which plummeted 8.68 percent in a single day, its largest one-day drop since August 2024.

Alps Alpine and Okuma also suffered significant losses, falling 8.29 percent and 7.99 percent respectively. The rise of the yen had a particularly negative impact on exporters, adding to the overall decline.