Japanese shares continue to gain amid Brexit turmoil

– Japanese shares on Tuesday, June 28 continued to roll back losses from last Friday’s sharp post-Brexit tumble, according to BBC News.

After initial losses in morning trade, the Nikkei 225 index continued to build on Monday’s gains and was up by 0.5% to 15,387.99 points.

With the yen remaining strong, Japanese exporters though continued to suffer.

As investors remain on edge over the possible fallout from Brexit, they are flocking to the yen as a safe haven, driving the currency higher.

Any rise in the yen will make Japanese goods more expensive abroad, hurting the prospect of the country’s crucial export sector.

On Monday, the government in Tokyo had tried to reassure by promising it would take action if needed to rein in the yen.

Carmakers Toyota, Nissan and Honda – all of which have production sites in the UK – were all down on Tuesday.

Other exporters like Hitachi, Panasonic or Yamaha have also all seen losses in Tuesday trade.