DHAKA: Japanese share markets closed lower after exports fell for the 10th month in a row thanks to a stronger yen.

Overseas shipments fell 14% in July from a year ago and imports fell 24.7% leaving Japan’s trade surplus at 513.5bn yen ($5.2bn), reports the BBC.

The falls were the sharpest since 2009.

The benchmark Nikkei 225 closed 1.6% lower at 16,486.01.

The yen rose again on Thursday, passing the key 100 level against the US dollar for the third time this year.

“Looking ahead, we expect the yen to weaken against the dollar towards the end of the year, so the annual growth rates of export and import values should start to recover in coming months,” senior Japan economist at Capital Economist Marcel Thieliant said.

“But with external demand sluggish, trade volumes are unlikely to stage a strong rebound.”

The yen continued to strengthen on Thursday and passed the key 100 level versus the US dollar for the third time this year.

BDST: 1329 HRS, AUG 18, 2016
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