Japan Stocks fall on profit booking

Japan share market finished session lower on Monday, 12 October 2020, as the yen's rise against the U.S. dollar dented sentiment and triggered profit-taking, with investors closely watching the US presidential election campaigns.

At closing bell, the 225-issue Nikkei Stock Average declined 61 points, or 0.26%, to 23,558.69. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 4.03 points, or 0.24%, to 1,643.35.

Total 21 issues of the 33 industry category of Topix index ended into red territory, with Rubber Products, Warehousing & Harbor Transportation Services, Marine Transportation, Glass & Ceramics Products, Transportation Equipment, Pulp & Paper, and Nonferrous Metals issues being notable losers, while Air Transportation, Fishery, Agriculture & Forestry, Information & Communication, Real Estate, and Services issues were notable gainers.

 

The major exporters were lower on a stronger yen. Mitsubishi Electric, Canon and Sony fell more than 1% each, while Panasonic was down almost 1%. In the tech space, Tokyo Electron was up 0.1%, while Advantest added 0.4%.

CURRENCY NEWS: The Japanese yen traded at 105.56 per dollar after strengthening from levels above 105.9 against the greenback last week.

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