Tokyo stocks remained under selling pressure Thursday amid caution ahead of U.S. nonfarm jobs data due out Friday, sending the Nikkei index lower for the fourth straight session.
The 225-issue Nikkei Stock Average closed down 105.31 points, or 0.76 percent, from Wednesday at 13,694.04. The broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 5.09 points, or 0.44 percent, to 1,153.28.
Decliners were led by steelmakers, papermakers and consumer finance companies while gainers included utilities, airlines and pharmaceutical shares.
The Nikkei moved narrowly in the morning but later accelerated its downswing, dipping more than 160 points at one stage as investors sought to lock in gains amid concerns over the U.S. and Chinese economic outlooks and ahead of Japanese holidays from Friday to Monday, brokers said.
via Mainichi
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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