Japan Nikkei falls on profit booking

The Japanese stock market ended its session lower on Monday, October 18, 2021, as investors opted to book some profits after strong gains in the previous two sessions out of caution ahead of corporate earnings and the looming general election. However, market losses capped expectations that the Japanese government will issue further pandemic stimulus after the Oct. 31 general election.

At the close, the 225-number Nikkei Stock Average fell 43.17 points, or 0.15%, to 29,025.46.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 4.70 points, or 0.23%, to 2,019.23. The turnover of trading volume on the main section was 1.08 billion shares worth 2.53 trillion yen.

In total, 18 of the 33 industry groups ended down with the Topix. and Retail (down 0.9%), while top performing sectors included Mining (up 5%), Petroleum & Coal Products (up 2.3%), non-ferrous metals (up 2.3%) and iron and steel (up 2.1%).

CURRENCY NEWS: The dollar stood at 114.26 yen in afternoon Asian trading, slightly down from 114.28 yen in New York on Friday, but up from the 112 level yen the previous week.

Powered by Capital Market – Live News

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

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor