January 25, 2018 / 6:46 AM / a year ago

Nikkei drops as strong yen hurts exporters, miners outperform

TOKYO, Jan 25 (Reuters) - Japan’s Nikkei share average dropped to a near two-week low on Thursday as a stronger yen hurt exporters, although firmer oil prices pulled up oil and mining stocks.

The Nikkei ended 1.1 percent lower at 23,669.49, the weakest closing level since Jan. 12.

Transport equipment stocks tumbled, with Honda Motor Co sliding 1.3 percent, Subaru Corp falling 1.5 percent, while electronic appliance maker Panasonic Corp shed 2.2 percent and chip-making equipment manufacturer Advantest Corp stumbled 2.5 percent.

Oil and mining stocks outperformed after oil prices hit their highest since December 2014, pushed up after U.S. crude inventories posted a 10th straight week of declines and as the dollar continued to weaken.

Inpex Corp added 0.2 percent, Japan Petroleum Exploration Co gained 2.0 percent and Showa Shell Sekiyu advanced 1.3 percent.

The broader Topix declined 0.9 percent to 1,884.56.

Editing by Sam Holmes & Shri Navaratnam

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