Markets

Tokyo shares close down 0.61 percent

Published Updated

 

The Nikkei index at the Tokyo Stock Exchange fell 55.07 points to 8,947.17, after opening in positive territory. The Topix index of all first-section shares dipped 0.69 percent, or 5.42 points, to 779.07.

Dealers had expected stocks to be aided by a relatively weaker yen, but Europe's single currency came under pressure in later forex trade.

"The yen has regained some ground against the euro from earlier in the morning," SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires, adding investors were taking profits ahead of the weekend.

The euro stood at $1.3262 and 102.93 yen, down from $1.3286 and 103.20 yen.

The dollar bought 77.58 yen, also edging down from 77.68 yen.

"Selling is short-term after the index reached the 9,000 mark (earlier this week)," Investrust CEO Hiroyuki Fukunaga said.

Eurozone finance ministers on Thursday put off a decision on a new bailout to save Greece from bankruptcy, giving Athens less than a week to meet three conditions in return for the aid.

The deadline was set during talks between Greek Finance Minister Evangelos Venizelos and his 16 eurozone counterparts in Brussels.

On Thursday, the Dow Jones Industrial Average finished up 0.05 percent, or 6.51 points, at 12,890.46.

The broad-based S&P 500 crept up 0.15 percent, or 1.99 points, to 1,351.95, while the Nasdaq Composite gained 0.39 percent, or 11.37 points, to 2,927.23.

In Tokyo many currency-sensitive exporters fell, with TDK off 1.71 percent at 3,735 yen, Honda down 1.84 percent at 2,770 yen and Canon 1.30 percent lower at 3,415 yen.

 

Copyright AFP (Agence France-Presse), 2012