AGL 42.25 Increased By ▲ 3.71 (9.63%)
AIRLINK 129.75 Increased By ▲ 0.25 (0.19%)
BOP 6.37 Increased By ▲ 0.76 (13.55%)
CNERGY 4.10 Increased By ▲ 0.24 (6.22%)
DCL 8.58 Decreased By ▼ -0.15 (-1.72%)
DFML 40.86 Decreased By ▼ -0.90 (-2.16%)
DGKC 88.02 Decreased By ▼ -0.28 (-0.32%)
FCCL 34.69 Decreased By ▼ -0.31 (-0.89%)
FFBL 66.37 Decreased By ▼ -0.98 (-1.46%)
FFL 10.65 Increased By ▲ 0.04 (0.38%)
HUBC 109.10 Increased By ▲ 0.34 (0.31%)
HUMNL 14.76 Increased By ▲ 0.10 (0.68%)
KEL 4.71 Decreased By ▼ -0.04 (-0.84%)
KOSM 7.31 Increased By ▲ 0.36 (5.18%)
MLCF 42.33 Increased By ▲ 0.68 (1.63%)
NBP 61.13 Increased By ▲ 1.53 (2.57%)
OGDC 179.00 Decreased By ▼ -4.00 (-2.19%)
PAEL 25.95 Decreased By ▼ -0.30 (-1.14%)
PIBTL 6.04 Increased By ▲ 0.07 (1.17%)
PPL 145.70 Decreased By ▼ -1.00 (-0.68%)
PRL 24.09 Increased By ▲ 0.48 (2.03%)
PTC 16.30 Decreased By ▼ -0.26 (-1.57%)
SEARL 71.14 Increased By ▲ 2.84 (4.16%)
TELE 7.37 Increased By ▲ 0.14 (1.94%)
TOMCL 36.12 Increased By ▲ 0.17 (0.47%)
TPLP 7.96 Increased By ▲ 0.11 (1.4%)
TREET 15.35 Increased By ▲ 1.15 (8.1%)
TRG 50.75 Increased By ▲ 0.30 (0.59%)
UNITY 27.30 Increased By ▲ 0.55 (2.06%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,846 Increased By 40.2 (0.41%)
BR30 29,755 Increased By 76.6 (0.26%)
KSE100 92,505 Increased By 200.4 (0.22%)
KSE30 28,824 Decreased By -15.8 (-0.05%)

TOKYO: Japan’s Nikkei share average fell on Tuesday as investors locked in profits from recent gains, with the yen’s rebound against the dollar also weighing on sentiment.

The Nikkei closed 0.12% lower at 33,408.39 after opening 0.22% higher.

“The Nikkei failed to end higher than its highest closing level in three decades scaled on July 3 three times recently,” said Jun Morita, general manager of the research department at Chibagin Asset Management.

“Under these conditions, short-term investors wanted to sell stocks to book profits for now.”

The index had hit its highest level since March 1990 on Nov. 20, and has been close to that level in two sessions since then.

However, none of these sessions closed higher than on July 3.

The broader Topix slipped 0.21% to 2,376.71, with Toyota Motor falling 0.54% to drag the index lower the most.

Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute, said sentiment was also hurt by a rise in the yen, which prompted a sell-off.

The yen gained momentum as the US dollar ticked down to a three-month low on Tuesday after slipping overnight on weaker-than-expected new home sales data.

Shares of Denso fell 4.85% after Reuters reported Toyota group companies plan to cut their holdings in the supplier by selling around 10% of the company by year-end.

Japan’s Nikkei jumps, led by rally in chip shares

Meanwhile, Taisho Pharmaceutical surged to its daily limit high for a second day, ending 15.28% higher at 7,545 yen after being untraded most of the day with a glut of buy orders.

The drugmaker last week announced a management buyout at 8,620 yen per share, which would take the company private.

Trading firm Sojitz surged 8.46% to become the top performer on the Nikkei, while television maker Sharp tanked 9.49% and was the worst performer.

Comments

Comments are closed.