Nikkei Index falls 0.8% dragged down by auto and pharmaceutical stocks

Glonghui, January 28th｜Japanese stocks fell in early trading as a rebound in the yen sparked concerns over corporate profitability. The Nikkei Index dropped 0.8% to 52,893.59 points. Automakers and pharmaceutical companies led the decline. Toyota Motor fell 2.7%, while Daiichi Sankyo dropped 4.8%. The US dollar traded at 152.53 yen, a significant decrease from 154.57 yen at the close of the Tokyo stock market on Tuesday. Investors are closely watching comments from Japanese government officials regarding the yen. With the early February election approaching, Prime Minister Sanae Takaichi's economic plan is also receiving much attention.