Tokyo markets saw widespread profit-taking sales ahead of the holiday, sending the Nikkei Average lower for the first time in 3 sessions. The Nikkei closed at ¥68,309.46, while TOPIX fell 40.98 points to 4,091.00. Markets remained short of fresh catalysts and continued to wait for direction ahead of the weekend.
The Nikkei Stock Average closed down ¥647.26 from the previous day at ¥68,309.46, while TOPIX fell 40.98 points to 4,091.00. Both indexes declined for the first time in 3 sessions. The size of the declines was attributed to profit-taking sales ahead of the holiday and a lack of fresh catalysts. 84% of stocks fell and 14% rose.
In the Tokyo foreign exchange market, the dollar fell to the mid-¥157 range against the yen. Selling for position adjustments intensified toward the close ahead of the US employment report, with the dollar trading at around ¥157.58–¥157.59. The euro fell sharply against both the yen and the dollar.
In the bond market, the long-term interest rate was around 3.095%, while gains in bond futures were capped. The unsecured overnight call rate in the short-term money market was around 1.227%.
Tokyo crude oil futures rose sharply, with the settlement price up ¥1,860 from the previous day at ¥88,140. Concerns over the situation in the Middle East and a global shortage of petroleum products supported buying.
Gold futures fell for the first time in 3 sessions. The settlement price for the most active contract was ¥21,753, down ¥88 from the previous day. The stronger yen and weaker dollar were seen as one factor.
The latest consumer price statistics for Tokyo's 23 wards showed prices rising 2.7% in September, returning to the 2% range for the first time in 8 months.
As supplementary news, reports also covered developments related to the government's industrial restructuring efforts, including the integration of 3 domestic power semiconductor companies.
Facts: Nikkei: ¥68,309.46, down ¥647.26 from the previous day; TOPIX: 4,091.00, down 40.98 from the previous day; trading volume: 2.51171 billion shares; trading value: ¥8.2978 trillion; dollar/yen: mid-¥157 range, ¥157.58–¥157.59 toward the close; crude oil: ¥88,140, up ¥1,860 from the previous day; gold futures: ¥21,753, down ¥88 from the previous day.
Source: finance.yahoo.co.jp