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BCN-05
STOCKS-JAPAN-OPEN
Tokyo stocks open lower as investors lock in profits
TOKYO, Dec 18, 2019 (BCN/AFP) – Tokyo stocks opened lower on Wednesday as
investors sold shares to take profits despite a broadly positive market
sentiment, boosted by positive economic data and a US-China trade deal.
The benchmark Nikkei 225 index was down 0.18 percent or 42.36 points at
24,023.76 in early trade, while the broader Topix index edged lower by 0.14
percent or 2.40 points to 1,744.80.
“Japanese investors are taking a wait-and-see attitude after US shares
advanced only slightly and the yen’s fall (against the dollar) ground to a
halt,” Okasan Online Securities strategist Yoshihiro Ito said in a
commentary.
“There is no change in the upward trend” of the market over the longer
term, he added.
The dollar fetched 109.52 yen in early Asian trade, against 109.50 yen in
New York.
In Tokyo, steelmakers were among the losers, with Nippon Steel slipping
0.83 percent to 1,724 yen and JFE Holdings trading down 0.60 percent at 1,491
yen.
Some electronics manufacturers were lower, with Panasonic sliding 0.90
percent to 1,037 yen, Sony off 0.42 percent at 7,423 yen, Sharp down 2.73
percent at 1,747 yen, and camera maker Nikon lower by 1.90 percent at 1,439
yen.
The market shrugged off Japanese data before the opening bell. Japan
booked a trade deficit of 82.1 billion yen ($750 million) in November.
In New York, the Dow ended up 0.1 percent at 28,267.16.
BSS/AFP/HR/0922