Tokyo stocks fell on Wednesday for the seventh trading day. Investors sold shares as a stronger yen weighed on the outlook for corporate earnings.
The Nikkei 225 closed at 35,619, down 1.49 percent. It briefly lost more than 900 points. Investors offloaded export-related companies including automakers.
The drop came after the Japanese currency rose to the upper 140-yen level against the dollar in Tokyo for the first time since last December.
Analysts say traders bought up the yen on remarks by a Bank of Japan board member.
Nakagawa Junko said the BOJ will adjust monetary policy if it’s confident in the bank’s outlook for economic activity and prices. Investors took this as a sign that more rate hikes could be on the table.