Japan's Nikkei Ends 2016 Trading, Up for Fifth Year
Japan's Nikkei Ends 2016 Trading, Up for Fifth Year
Tokyo - QNA
Japan's benchmark Nikkei 225 Stock Average edged down in thin year-end trade on Friday for the third straight day of falls following overnight losses on Wall Street.
But overall the index ended up for 2016, extending its upward streak for a fifth year. On Friday, the Nikkei lost 30.77 points, or 0.16 per cent, to close at 19,114.37 after hitting below the 19,000 mark for the first time in three weeks. The broader Topix index was almost flat, up 0.22 points, or 0.01 per cent to end at 1518.61, dpa reported.
For the year, the Nikkei gained 0.42 per cent for the fifth straight year of rise after gaining 28.6 per cent since late June, when the index hit the year's low following Britain's vote to leave the European Union.
In the first half of the year, Japanese stocks fell sharply as export-linked issues were dragged down by a stronger yen. The appreciation of the currency made Japanese products less appealing overseas and hurt the earnings of exporters.
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