Arab Today, arab today nikkei tumbles 203 on profit taking firmer yen
Last Updated : GMT 10:57:56
Arab Today, arab today
Arab Today, arab today

Nikkei tumbles 2.03% on profit taking, firmer yen

Arab Today, arab today

Arab Today, arab today Nikkei tumbles 2.03% on profit taking, firmer yen

Nikkei stock index
Tokyo - XINHUA

The Nikkei stock index tumbled 2.03 percent Tuesday as investors sought to lock away gains following the market's recent rise, and a relatively firm yen ensured that export-related issues were not an attractive proposition.
The Nikkei 225 index fell 306.95 points to close at 14,804.28, while the broader Topix index of all first-section issues lost 1. 55 percent, or 18.98 points, to end the day at 1,205.36.
Marker players here said that following the market's near 4 percent surge on Monday, selling was pervasive from the get go as investors looked to lock in profits.
Hiroichi Nishi, an assistant general manager of equity research at SMBC Nikko Securities Inc., noted that even though U.S. stocks continued to rise overnight, selling took place Tuesday due to the Nikkei's gain of 578 points a day earlier.
Other analysts said that the recent volatility on the market could continue for awhile, although things may calm down following the outcome of the U.S. Federal Reserve's next policy meeting.
"October is typically a volatile month for the market, and thus far it hasn't disappointed. Even so, yesterday's surge was beyond most expectations. The volatility is likely to continue for a while, at least until the U.S. Federal Reserve policy meeting on Oct. 28-29," said Chibagin Asset Management general manager Yoshihiro Okumura.
Losses were extended in the afternoon session as bourses in Hong Kong and Shanghai lost ground following the Chinese government saying its economy grew at its slowest pace since the global financial crisis, leading to analysts speculating about the possible introduction of more stimulus measures, said Hiroaki Hiwada, a strategist at Toyo Securities Co.
The latest official data showed that China's gross domestic product grew 7.3 percent in the third quarter from a year earlier, compared to a 7.5-percent increase in the previous quarter.
But while the figure came in ahead of median economists' forecasts for 7.2 percent growth, it still marked the slowest rate of growth since March 2009, economists highlighted.
"Investors became concerned about how European and U.S. markets would react to the China's economic slowdown," Hiwada said.
With the U.S. dollar changing hands at 106.29 yen from 106.92 yen in New York, some export-related issues came under pressure Tuesday, as they rely on a weaker yen to boost their competitiveness is overseas markets and the profits made there when repatriated.
Toyota Motor skidded down 1.6 percent to 5,931 yen and smaller rival Honda Motor Co. reversed 1.5 percent to 3,315. Nissan Motor, for its part, fell 2.2 percent to close at 935 yen.
Consumer electronics behemoth Sony Corp. dropped 1.5 percent to 1,847 yen, and component and data storage device maker TDK dropped 3.5 percent to close the day at 5,520 yen.
Japan Steel Works was one of the market's most notable decliners, tumbling 6.5 percent to 357 yen, marking its lowest close since 2005, following the firm saying it will likely make a loss of 16 billion yen, owing to problems over components for wind turbines.
Takata plummeted 23 percent to 1,686 yen, following its faulty parts, predominantly airbags, being connected to global vehicle recalls by Honda, Toyota, Bayerische Motoren Werke AG, Ford Motor Co., Chrysler Group LLC and Mazda Motor Corp.
Toyota issued an advisory recently for its passengers not to sit in the front of its U.S. cars, after reports have emerged about metal shrapnel being launched from faulty air bags.
But Fujifilm Holdings marked one bright spot on the market, edging up 0.2 percent to 3,398 yen, following news the company plans to increase production of the anti-influenza drug Aviga for use by Ebola-infected patients, after an initial trial showed some positive results.
Trading volume on Tuesday dropped to 2.25 billion shares on the Tokyo Exchange's First Section, down from Monday's volume of 2.37 billion shares, with declining issues beating advancing ones by 1, 574 to 209.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nikkei tumbles 203 on profit taking firmer yen Arab Today, arab today nikkei tumbles 203 on profit taking firmer yen

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday