ZCZC
BCN-24
STOCKS-JAPAN-CLOSE LEAD
Tokyo stocks close lower as investors lock in profits
TOKYO, Jan 10, 2019 (BSS/AFP) – Tokyo stocks closed lower on Thursday as
investors took profits after three days of rallies and with fears over the US
government shutdown weighing on the market.
The benchmark Nikkei 225 index lost 1.29 percent, or 263.26 points, to
20,163.80, while the broader Topix index dropped 0.85 percent, or 13.10
points, to 1,522.01.
“As the Nikkei 225 has gained about 900 (points) in the past three days,
and as the meeting between US President Donald Trump and Democratic leaders
ended without a deal, investors are discouraged,” Okasan Online Securities
said in a note.
Trump has partially shut down the US government and is threatening to
declare a national emergency as he pressures Congress for money to build a
wall on the US-Mexico border to stem illegal immigration.
Trump said “bye-bye” and stormed out of negotiations Wednesday with
congressional leaders when Democratic opponents refused to agree to the
project.
The dollar fell to 107.87 yen from 108.28 yen in New York on Wednesday,
weighing on investor sentiment.
Some exporters traded lower, with Sony off 3.09 percent at 5,246 yen,
Nintendo down 3.04 percent at 29,795 yen and industrial robot maker Fanuc
lower by 2.43 percent at 17,090 yen.
BSS/AFP/SR/1800 HRS