News24
20 Jan 2021, 20:13 GMT+10
Tokyo stocks closed down Wednesday as profit-taking wiped out earlier gains, with investors taking a wait-and-see stance ahead of Joe Biden's inauguration.
The benchmark Nikkei 225 index fell 0.38% or 110.20 points to 28 523.26, while the broader Topix index declined 0.34% or 6.26 points to 1 849.58.
The market opened on a strong footing, following overnight gains on Wall Street as investors hoped for aggressive stimulus spending by the Biden administration in the United States.
After reaching the day's high shortly after the opening bell, the Tokyo market came under selling pressure as investors locked in profit.
"As we waited for the inauguration ceremony of incoming President Biden, investors refrained from making active moves," SMBC Nikko Securities said.
Players also wanted to see decisions later this week by major central banks, including the Bank of Japan and European Central Bank.
Still, the market saw both bargain-hunting as well as profit-taking, analysts said.
"The market fell... but it seems the market is seeming rather more resilient than expected," Okasan Online Securities said.
The dollar stood at 103.73 yen, slightly off from 103.90 yen in New York late Tuesday.
Among major shares, logistics and transport shares fell. Japan Airlines lost 1.77% to 1 888 while rival ANA Holdings dropped 3.35% to 2 232.5.
Major logistics firm Yamato Holdings fell 1.66% to 2 550.
Nintendo gave up 1.73% to 64 720. Sony lost 0.14% to 10 590.
Textiles firms gained with Toray surging 5.45% to 704.9 yen, as did chipmakers like Rohm, which added 1.02% to 11 940.
Get a daily dose of Travel Trade news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Travel Trade.
More InformationDUBLIN, Ireland - It will take until 2023 for Ireland to return to full employment following the Covid pandemic, Ireland's ...
WASHINGTON, DC: In order to reduce the United States' reliance on the imports of advanced batteries, pharmaceuticals, critical minerals and ...
NEW YORK, New York - U.S. stocks were like a tug of war Friday. Industrials lost ground, while technology stocks ...
WASHINGTON, DC - Several payment services belonging to the U.S. Federal Reserve came to a standstill on Wednesday, including the ...
SYDNEY, NSW, Australia - Shares across Asia were slammed on Friday sending the major indices tumbling."The bond market is signalling ...
The US is witnessing the strongest housing market boom since 2014, with record-low mortgage rates and a limited supply of ...
WASHINGTON, DC - The U.S. Federal Aviation Administration (FAA) has ordered immediate inspections of all Boeing 777-200 planes using Pratt ...
Hyderabad (Telangana) [India], February 27 (ANI): Union Minister Prakash Javadekar on Saturday slammed the Congress, saying India lost Aksai chin ...
Naypyitaw [Myanmar], February 27 (ANI): Unregistered flights from China have been landing every night in Myanmar carrying unknown goods and ...
The U.S. House of Representatives passed President Joe Biden's $1.9 trillion COVID-19 relief package that aims to provide relief to ...
Some intemperate remarks about Russian weaponry from Armenian Prime Minister Nikol Pashinyan led the country to the precipice of a ...
The U.S. House of Representatives votes Friday on President Joe Biden's $1.9 trillion COVID-relief package that aims to provide relief ...