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Topix falls 1.4% as yen firms in face of rising North Korea tensions

Japanese equities took a tumble on Wednesday morning as Japan’s yen firmed past the ¥110 mark in response to bellicose rhetoric from US President Donald Trump on North Korea.

The broad Topix index fell as much as 1.4 per cent in morning trading in Tokyo, with losses of around 1 per cent or more across all sectors.

Among the worst-performing segments were industrials, materials, information technology and telecoms, all down 1.5 per cent.

The fall came as the yen firmed to a strong as ¥109.84, where it continued to hover below the ¥110 mark for the first time since Friday.

The moves come after US president Donald Trump said on Tuesday that North Korea would be “met with fire and fury like the world has never seen”, escalating his rhetoric against the nuclear aspirant following fresh reports about its galloping missile programme.

Those comments also served to undercut gains on Wall Street, where stocks had been on course to hit new record highs but finished lower following Mr Trump’s threats.