BCN-37 Tokyo stocks close lower on profit taking

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BCN-37

STOCKS-MARKETS-JAPAN-CLOSE

Tokyo stocks close lower on profit taking

TOKYO, Sept 12, 2018 (BSS/AFP) – Tokyo stocks ended lower on Wednesday as
investors locked in profits a day after the benchmark index rose 1.30
percent.

The benchmark Nikkei 225 index lost 0.27 percent or 60.08 points to close
at 22,604.61, while the broader Topix index fell 0.45 percent or 7.59 points
at 1,691.32.

The Japanese indices followed Wall Street to rise marginally at the open
but quickly dropped back into negative territory.

The dollar fetched 111.53 yen in Asian trade, against 111.57 yen in New
York late Tuesday.

In Tokyo, Sony was up 0.26 percent at 6,352 yen and game giant Nintendo
rose 0.48 percent to 39,340.

Automakers were lower, with Toyota falling 0.58 percent to 6,661 yen and
Honda dropping 1.79 percent to 3,117 yen.

Struggling electronics maker Pioneer plunged 9.30 percent to 117 yen after
announcing it had secured up to 60 billion yen ($540 million) in funding from
Hong Kong-based investment firm Baring Private Equity Asia.

Citizen Watch, which sponsors the Japanese top tennis player Naomi Osaka,
who beat Serena Williams in the US Open, rallied for a second straight day,
edging up 0.14 percent at 707 yen.

BSS/AFP/HR/1255