February 16, 2016 - 5:56 PM EST
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Tokyo stocks slump on stronger yen

, Feb 17 (EFE).-
stocks tumbled Wednesday, as the yen rose against the dollar.

The Nikkei slid by 218.07 points, or 1.36 percent, to close at 15,836.36, while the broader Topix index finished 1.3 percent lower at 1,282.40, the Nikkei Asian Review reported.

Concerns affecting stocks have been fuelled by a strengthening of the yen against the dollar, which is expected to hurt

export driven economy.

"It is still a very volatile market and while the recent excessive risk-off mood has receded, investors are still cautious about detrimental external factors, including

and lingering concerns about a
recession," Yutaka Miura, senior technical analyst at investment banking firm Mizuho Securities Co., was quoted as saying.

He added that falling crude oil prices had also contributed to today's slump. EFE


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Source: Equities.com News (February 16, 2016 - 5:56 PM EST)

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