Australian shares record high, Japanese yen

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An individual walks past electronic boards displaying share prices of corporations listed on the Tokyo Stock Exchange on a street in Tokyo, March 4, 2024.

Kazuhiro Legs | Afp | GettyImages

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Japanese shares fell probably the most amongst Asian markets on Thursday, while Australian shares hit a record high, helped by a rally in mining stocks.

Japan fell 1.22%, while the broader Topix lost 1.31%.

The dollar was trading at 151.37 after hitting 151.97 on Wednesday, the weakest level against the dollar in 34 years.

The yen’s multi-decade lows have fueled market speculation about potential government intervention to support the currency. Japan’s Finance Minister Shunichi Suzuki indicated earlier this week that measures “in response to chaotic currency movements” wouldn’t be ruled out.

Australia rose 0.91% after hitting an intraday high of seven,901.20. The index rose for the second day in a row. Heavyweight miners rose, including increases of 1.1% and 1.8%.

South Korea’s Kospi fell 0.13%. Smaller capitalization Kosdaq increased by 0.06%.

Hong Kong’s Hang Seng Index gained 1.63% and the Hang Seng Technology Index rose 3.8%.

China’s CSI 300 rose 1.2%.

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