Japanese shares wipe out gains for 2017

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A late slide has seen Japan’s stock market wipe out its gains for the year.

With hefty losses among energy companies, consumer staples and the banks, the Topix ended Friday trading 1 per cent lower at 1,512.6.

This marked a third-straight day of declines during which the benchmark has fallen a cumulative 2.1 per cent.

For the year, the Topix is down 0.4 per cent, while the price-focused Nikkei 225, which dropped 0.8 per cent today, is 1.1 per cent lower for 2017.

Notwithstanding a 0.8 per cent drop on Thursday, the Japanese yen has strengthened this month (and is stronger against the dollar for the year), keeping pressure on exporters.

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