Japan’s Nikkei Retreats After Brief Surge
(MENAFN) Japan’s main stock index ended its four-day winning streak on Wednesday as investors moved to secure gains following a brief rally that pushed the benchmark above the 38,000 mark.
The Nikkei 225, Japan’s key stock average consisting of 225 issues, closed at 37,722.40, slipping by 1.71 points compared to the previous session.
Initial upward momentum came from strong performances in U.S. technology shares the day before, which lifted the Nikkei by over 400 points during intraday trading. However, as the index approached the crucial 38,000 level, selling intensified with traders eager to cash in on earlier profits.
This 38,000 threshold has seen heavy activity since the market’s summer 2024 correction, prompting some investors to offload positions amid hopes of a rebound.
Meanwhile, the broader TOPIX index edged up slightly for a fourth straight session, finishing 0.02 points higher at 2,769.51.
On the Tokyo Stock Exchange Prime Market, 763 stocks fell, 792 advanced, and 76 remained unchanged.
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.
