Tokyo Stocks Close Tuesday Slightly Up
The benchmark Nikkei Stock Average, which tracks 225 major issues, rose 10.48 points, or 0.02%, from the previous session to finish at 50,412.87. The broader Topix index gained 18.08 points, or 0.53%, ending the day at 3,423.25.
The Japanese yen briefly strengthened into the upper 155 range against the U.S. dollar, driven by mounting speculation that Japanese authorities could intervene after the currency’s recent weakness.
A firmer yen pressured exporter stocks, while investors moved to secure profits in heavyweight technology shares after the Nikkei had climbed more than 1,400 points over the previous two trading days.
Losses were capped, however, by sustained buying in bank and other financial shares. Analysts said expectations that the Bank of Japan will maintain its rate-hike posture boosted optimism about improved profitability in the sector.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
