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Nikkei slips on yen intervention fears as Kospi wobbles, Kosdaq surges
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The coordinated yen-buying intervention remains the dominant theme for Japanese equities, with exporters facing renewed pressure from a stronger yen even as markets stay alert to the prospect of further official action if the currency weakens again.
Summary:Japan's Nikkei fell 0.11% by the midday recess and the Topix slid 0.26%, as investors remained wary of further yen-buying intervention and awaited Toyota's quarterly results.
The Nikkei had dropped nearly 1% on Monday after Japan's Finance Ministry confirmed coordinated yen-buying intervention with Washington and signalled readiness for further action if needed.
The dollar traded at 157.70 yen, with dollar/yen having moved sharply in the yen's favour from around 163 following the intervention.
Japan's Nikkei share average fell 0.11% by the midday recess, with the broader Topix sliding 0.26%, as investors remained cautious ahead of Toyota Motor's quarterly results due later in the day.