The Nikkei index ended lower Wednesday, snapping a four-session winning streak due to caution against market overheating following recent surges.
The 225-issue Nikkei Stock Average closed down 43.18 points, or 0.31 percent, from Tuesday at 14,055.56. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1.97 points, or 0.17 percent, at 1,173.81.
Decliners were led by utilities, fishery and forestry, and communications issues while gainers included tire, real estate and mining companies.
In early trading, the Nikkei briefly hit its highest level in more than a month as the U.S. dollar advanced well above the 100 yen mark, fueling expectations of robust earnings by export-oriented firms, 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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