Nikkei Ends Lower On Investors’ Profit-Taking

Tokyo stocks closed lower Wednesday on profit-taking from their surge the previous day, as the new fiscal year effectively kicked off on a delivery date basis.

The Nikkei Stock Average finished at 10,182.57, down 72.58 points, or 0.71%.

The sluggish performances of Chinese and other Asian markets weighed on investor sentiment in Tokyo, briefly pushing down the benchmark index by more than 130 points.

Exporters were supported by the dollar’s climb to around 83 yen. The overall market remained steady amid expectations that institutional investors may buy Nikkei Stock Average index futures for dividends.

Shares in companies whose fiscal terms end in March go ex-rights Wednesday, and the Nikkei index advanced effectively by around 10 points at the close of the day’s session.

The trading value on the first section of the Tokyo Stock Exchange came to 1.24 trillion yen. These data have been compiled by Nikkei News.