Nikkei falls for 4th day as strong yen hits; U.S. jobs in focus

Feb 5 Japan’s Nikkei share average fell for a fourth day on Friday on concerns that a stronger yen may squeeze exporters’ earnings, while investors awaited U.S. jobs data for clues on the Federal Reserve’s policy outlook.

The Nikkei dropped 1.3 percent to 16,819.59 points, the lowest closing level since Jan. 26. For the week, the benchmark index declined 4 percent.

Bucking the weakness, Sharp Corp soared on buyout hopes as Foxconn Chief Executive Officer Terry Gou is in Osaka to meet Sharp’s executives.

The broader Topix dropped 1.4 percent to 1,368.97 in heavy trade, with 3.39 billion shares changing hands, compared with a daily average volume of 2.2 billion shares.

The JPX-Nikkei Index 400 shed 1.4 percent to 12,358.86. (Reporting by Ayai Tomisawa; Editing by Jacqueline Wong)

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