Appreciation of Yen Hurts Exporters, Nikkei Turned Weakens

Japanese stocks slipped amid choppy trading session on Friday, after the rebound Yen against the Euro and the US dollar hit export-oriented stocks and other heavyweight components. Pressure also strengthened by investor caution ahead of US employment report on Friday night, which probably will be the deciding factor when the rate hikes by the Federal Reserve.

On Thursday, the European Central Bank has signaled readiness to inject stimulus with larger doses. Which sank the euro to 5-month lows against the yen.

Most exporters traded lower, with shares of Panasonic Corp. dropped 1.5% and Toyota Motor Corp. lost 1.3%. The selloff also hit banking shares, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group slumped observed respectively 1.4% and 2.4%.

The Nikkei recorded has dropped about 6.0% on the week. Leading him weekly decline for the 4th week in a row, while the worst weekly decline since April 2014.