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Tokyo Stocks Close Slightly Lower On Profit-Taking Ahead Of Holidays
 

Tokyo stocks closed marginally lower Wednesday as investors opted to secure profits ahead of the Golden Week holidays here following the benchmark Nikkei stock index's recent gains.

The 225-issue Nikkei Stock Average shed 35.25 points, or 0.16 percent, from Wednesday to close the day at 22,472.78.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, edged down 2.66 points, or 0.15 percent, to finish at 1,771.52.

Following Nikkei's rise over the previous three sessions, investors took to profit-taking ahead of the Golden Week string of national holidays, local brokers said.

They added that investors also opted not to take up bold positions as U.S. dollar buying after the holidays here would likely dampen sentiment, and the yen's rise against its counterparts dents exporters and trends to drag down the broader market.

Losses were trimmed, however, market strategists here said, as despite a wait-and-see mood ahead of the conclusion of the U.S. Federal Reserve's two-day policy meeting later in the day and jobs data due out Friday, a comparatively weak yen against the U.S. dollar supported firms like exporters with a broad exposure to overseas markets.

By the close of play, oil and coal product, mining and air transportation-linked issues comprised those that declined the most, and rising issues outpaced falling ones by 1,218 to 782 on the First section, with 83 ending the day unchanged.

On the main section on Wednesday, 1,446.03 million shares changed hands, rising from Tuesday's volume of 1,353.46 million shares.

The turnover on the final trading day of the week ahead of the holidays came to 2,404.6 billion yen (21.89 billion U.S. dollars).


(www.chinaview.cn 2018-05-03)
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