February 13, 2018 / 6:20 AM / a year ago

Nikkei falls to 4-month low as strong yen bites

TOKYO, Feb 13 (Reuters) - Japan’s Nikkei share average gave up early gains and closed at at four-month low on Tuesday in choppy trade as investors turned risk averse again as the yen rose rising against the dollar.

The Nikkei ended 0.7 percent lower at 21,244.68 points, its lowest closing level since mid-October.

The dollar dropped 0.4 percent to 108.23 yen, moving closer to Friday’s five-month low of 108.05 yen.

The broader Topix declined 0.9 percent to 1,716.78.

Air transport and land transport sectors as well as automakers underperformed. ANA Holdings dropped 2.0 percent and East Japan Railway Co shed 1.7 percent, while Toyota Motor Corp shed 2.5 percent and Honda Motor Co stumbled 1.7 percent.

Textile and mining sectors outperformed. Toray Industries surged 3.8 percent and Inpex Corp added 1.0 percent.

Editing by Kim Coghill

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