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Japan Market ends lower on profit booking

Capital Market 

Japan share market finished lower for the first time in four straight sessions on Tuesday, 15 September 2020, investors locked in gains after the Nikkei index ending at a seven-month high the previous day coupled with the yen's strength against the U. S. dollar.

At closing bell, the 225-issue Nikkei Stock Average declined 104.41 points, or 0.44%, to 23,454.89.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 10.26 points, or 0.62%, to 1,640.84.

Total 29 issues of the 33 industry category of Topix index ended into red territory, with Iron & Steel, Air Transportation, Mining, Land Transportation, Pulp & Paper, Fishery, Agriculture & Forestry, and Insurance issues being notable losers, while Marine Transportation, Services, and Banks issues were notable gainers.

Sony Corp shares plunged 2.4% to 8,058 yen following reports that it would downgrade its production target for PS5 consoles because of chip issues.

Hitachi erased its earlier loss and closed 0.1% higher at 3,768 yen after a report said it will withdraw from a stalled British power project. Hitachi suspended the three trillion yen ($28 billion) project to build two nuclear power reactors on Anglesey Island off northwest Wales in January 2019, saying the project was not commercially viable.

CURRENCY: The dollar fetched 105.63 yen in Asian afternoon trade, against 105.73 yen in New York late Monday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, September 15 2020. 14:55 IST