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After big gains that gave Japanese companies a big profit margin, Japan’s Nikkei index ended Friday’s session with a decline to erase those gains as it lost 1.34 percent to close at 35,751.07 points, a Series of points broke gains that had lasted two weeks, with a loss of 0.59 percent. Over the course of the week, it started the day with an increase of 0.76 percent.
Among the 225 companies included in the index, shares of 185 companies fell, shares of 39 companies rose, and shares of one company remained stable.
Profit-taking ahead of the weekend exacerbated declines, with some technical indicators still suggesting the rise that took the Nikkei to a 34-year high of 36,984.51 on Tuesday came too quickly. The main index is rising about 3.2 percent above its 25-day moving average.
Tuesday’s peak coincided with the Bank of Japan’s decision to leave stimulus measures unchanged, but the tendency toward monetary tightening expressed by the central bank chief in the post-meeting press conference impacted the market in the second half of the week.
The Nikkei is up 6.83 percent year-to-date, outperforming all of its major rivals, including the Standard & Poor’s 500 index, which closed at record levels for three consecutive sessions and is up 2.61 percent year-to-date. (Sky News Arabia)
Source: Sky News Arabia
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