Stocks turned lower on the Tokyo Stock Exchange Thursday, pressured by selling against the backdrop of the yen’s appreciation against the dollar.
The 225-issue Nikkei average ended down 74.96 points, or 0.48 percent, at 15,459.86. On Wednesday, the key market gauge climbed 13.60 points.
The TOPIX index of all First Section issues lost 5.18 points, or 0.4 percent, to close at 1,280.74, after rising 0.91 point the previous day.
Despite the Dow Jones industrial average’s rise overnight, the Tokyo market came under selling pressure from the outset of Thursday’s trading as the yen firmed moderately against the dollar, brokers said.
The Nikkei average extended losses somewhat in early trading but moved in a confined range for the rest of the morning session amid a dearth of fresh incentives.
In the afternoon, stock prices continued fluctuating narrowly on the minus side, hurt by selling of a wide range of issues following lackluster performances of other Asian equities, brokers said.
Investors retreated to the sidelines prior to the release of a number of Japanese economic indicators on Friday morning, brokers said. Such data include industrial production and the consumer price index, both for July.
via Japan News
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
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.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019