Japan stock market finished session lower on Monday, 04 December 2023, with export-linked shares leading losses as yen appreciation against the dollar deflates their repatriated profits while weakening their products' price competitiveness in foreign markets.

The 225-issue Nikkei Stock Average index was down 200.24 points, or 0.6%, to finish at 33,231.27. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 19.87 points, 0.83%, to 2,362.65.

Shares of exporters declined as yen appreciation against the dollar dented their repatriated profits while weakening their products' price competitiveness in foreign markets. The dollar fetched 146.34 yen in Asian trade, down from 148.05 yen in Tokyo on Friday. Mazda was the worst-performing auto stock, dropping 3.93%, while Toyota lost 2.3% and Nissan sank 3.3%. Chip-testing equipment maker Advantest was off 1.3%. Sony Group was down 2%.

ECONOMIC NEWS: The monetary base in Japan was up 8.9% on year in November, the Bank of Japan said on Monday - coming in at 671.532 trillion yen. That's down from the downwardly revised 9.0% increase in October (originally 9.5%). Banknotes in circulation rose 0.1% on year, while coins in circulation fell 2.2%. There was an 11.1% jump in current account balances, including an 11.3% spike in reserve balances. Seasonally adjusted, the base was up 4.1% at 679.635 trillion yen.

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