Japan Stocks fall on profit booking

Japan share market finished session lower on Friday, 09 October 2020, as market players took quick profits a day after the benchmark Nikkei after finishing at the highest level in almost eight months the day before.

At closing bell, the 225-issue Nikkei Stock Average declined 27.38 points, or 0.12%, to 23,619.69. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 8.09 points, or 0.49%, to 1,647.38. For the week, the Nikkei added 2.6% and the TOPIX rose 2.4%.

Total 28 issues of the 33 industry category of Topix index ended into red territory, with Real Estate, Securities & Commodities Futures, Land Transportation, Iron & Steel, Mining, and Construction issues being notable losers, while Marine Transportation, Retail Trade, and Services issues were notable gainers.

SoftBank Group Corp. fell as investors sought to lock in profits after a nine-session winning streak. Real estate names also came under selling, with Sumitomo Realty & Development Co. dropping 3.29%. Other major losers included railway operator West Japan Railway Co. and logistics firm Nippon Express Co. On the other hand, Seven & I Holdings Co. climbed after it raised its earnings forecast for the fiscal year ending in February 2021 on Thursday. Household goods retailer Ryohin Keikaku Co. spiked 10.5% after reported better than expected earnings for the six months through August.

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