Investing.com - Financial Markets Worldwide
⚠ NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Nikkei pulls back after hitting 29-1/2-year high

Published 12/07/2020, 11:27 AM
Updated 12/07/2020, 11:30 AM
© Reuters.
JP225
-
TOPX
-
4063
-
4324
-
7733
-
8035
-
3436
-
6857
-
7741
-
4755
-
IAIRL.T
-
IMETL.T
-
IPRCS.T
-

TOKYO, Dec 7 (Reuters) - Japan's benchmark Nikkei share
average pulled back from a more than 29-1/2-year high on Monday,
as investors chose to pocket profits amid some concerns of
overheating after five consecutive weeks of gains.
The Nikkei index .N225 fell 0.4% to 26,645.23 by the
midday break, after hitting its highest level since April 1991
of at the open. The broader Topix .TOPX lost 0.47% to
1,767.55.
Nearly two-thirds of the 33 sector sub-indexes on the Tokyo
exchange traded lower, with metal products .IMETL.T , precision
instruments .IPRCS.T and airlines .IAIRL.T leading the
decline.
Tokyo stocks opened higher, tracking positive cues from Wall
Street's Friday session, before reversing course on
profit-taking.
Major U.S. stock indexes rose to all-time highs last week as
downbeat U.S. jobs data raised expectations for a new fiscal
relief bill. .N
Back home, Prime Minister Yoshihide Suga said on Friday he
would decide on an economic stimulus package early this week,
adding that green and digital initiatives would be core to the
recovery from the coronavirus pandemic. Local stocks have been prone to profit-booking due to
persistent concerns of an overheating market, some market
participants said.
Among the Topix 30 underperformers, Shin-Etsu Chemical Co
Ltd 4063.T fell 3.43% and Hoya Corp 7741.T slipped 1.58%.
The top percentage losers in the index were Rakuten Inc
4755.T , Olympus Corp 7733.T and Sumco Corp 3436.T ,
dropping between 4.65% and 5.19%.
Among individual gainers, semiconductor stocks tracked their
U.S. peers higher, with Advantest 6857.T climbing 1.47% and
Tokyo Electron 8035.T adding more than 1.3%.
Dentsu Group Inc 4324.T inched up 0.85%, after the
Japanese advertising giant said it was expecting a smaller net
loss for the year ending in December compared to the prior year.


Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.