AlQa'dah 22, 1432, Oct 20, 2011, SPA -- Japanese stocks dropped 1 per cent Thursday as export-oriented issues were dragged down by overnight losses on Wall Street and the yen's strength against other major currencies, dpa reported. The benchmark Nikkei 225 Stock Average lost 90.39 points, or 1.03 per cent, to close at 8,682.15 after climbing 0.35 per cent Wednesday. The broader-based Topix index was down 5.47 points, or 0.73 per cent, at 746.02. Exporters such as Honda Motor Co and Sony Corp fall sharply as the local currency was standing in the upper-76-yen range to the dollar. A strong yen makes Japanese goods more expensive overseas and hurts repatriated earnings. Honda plunged 2.95 per cent and Sony was down 1.59 per cent. The Dow Jones Industrial Average fell 0.63 per cent Wednesday amid renewed concerns about the European debt crisis. The United States is a major market for export-reliant Japan. On currency markets at 3 pm (0600 GMT) in Tokyo, the dollar traded at 76.73-74 yen, little changed from Wednesday's 5 pm quote of 76.74-79 yen. The euro traded at 1.3702-3703 dollars, down from 1.3811-3814 dollars Wednesday, and at 105.12-15 yen, down from 106.02-04 yen.
