The headline Nikkei index fell 0.20 per cent, or 48.22 points, to 23,816.63. Over the week, it shed 0.9 per cent. — AFP pic
TOKYO, Dec 20 ― Tokyo shares closed marginally lower today as profit-taking erased early gains driven by fresh records on Wall Street.
The headline Nikkei index fell 0.20 per cent, or 48.22 points, to 23,816.63. Over the week, it shed 0.9 per cent.
The broader Topix index lost 0.18 per cent, or 3.04 points, to 1,733.07, and declined 0.4 per cent from a week earlier.
Tokyo shares had opened fractionally higher as all three major US indices advanced to new records yesterday with an easing of US-China tensions and a new North American trade agreement advancing in Congress.
But they fell into negative territory by the closing bell “as investors locked in profits on recent gains”, said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.
Investors are also starting to adjust their positions ahead of the New Year holiday break, putting further pressure on the market.
“Trading was thin as many investors were on the sidelines in holiday mood,” Horiuchi told AFP.
The market essentially shrugged off the historic impeachment of US President Donald Trump, with most pundits believing the controversial leader will stay in power with support from the Senate, which is controlled by the Republican Party.
“The market basically ignored the impact of the impeachment,” Okasan Online Securities said in a note.
Meanwhile, Tokyo players remained wary about the yen's relative strength, with the dollar standing at ¥109.30 this afternoon, compared with ¥109.36 in New York overnight and ¥109.59 in Tokyo yesterday.
In Tokyo, the higher yen hit exporters. Toyota dropped 1.11 per cent to ¥7,744 and Sony lost 1.70 per cent to ¥7,326 with construction equipment maker Komatsu down 1.11 per cent at ¥2,652.
Among other major shares, SoftBank Group lost 0.61 per cent to ¥4,674 but Uniqlo-operator Fast Retailing added 0.34 per cent to ¥66,650. ― AFP