Nikkei index slumps for fourth straight day as yen strengthens, export stocks hit hard
The Tokyo market was notably unsettled ahead of the August U.S. employment statistics, which are anticipated to be a key determinant for future U.S. interest rate adjustments. The ADP National Employment Report released on September 5 revealed job growth that fell short of market expectations, amplifying concerns about the upcoming data. Analysts predict that weak employment figures could prompt a stronger yen and weaken the dollar, potentially driving the Nikkei below the 36,000 yen mark early next week. Yamaguchi Masahiro, head of investment research at SMBC Trust Bank, warned of significant market reactions if the employment report disappoints.
