TOKYO: Japanese stocks lowered in early trade on Wednesday, as reported profit-taking from the last day’s rally outweighed any encouraging effects from a small jump for the dollar USDJPY, -0.83% (at ¥118.66 vs. ¥118.32 at previous stock close) and an evenly modest progress for U.S. stocks.
The Nikkei Average NIK, -0.80% was down 0.6% about 20 minutes into trade, paring Tuesday’s 2.1% surge, while the Topix was down 0.5%. Among some of the heavily traded blue chips, Toshiba Corp. 6502, -2.81% TOSYY, -0.51% fell 2.4%, Japan Display Inc. 6740, -4.35% retreated 3.3%, Softbank Corp. 9984, -1.05% SFTBF, -0.47% lost 0.9%, and Toyota Motor Corp. 7203, -1.36% TM, +0.22% was down 0.7% as the Nikkei reported the company would cut its car- and truck-sales targets for 2015, and would “likely lose it position as the world’s top-selling auto maker to Volkswagen for the first time.” Stock in smaller rival Mitsubishi Motors Corp. 7211, -4.05% MMTOF, -1.12% dropped by 3.5% as reports said government subsidies for new fuel-cell cars would be bigger than those offered for Mitsubishi Motors’ electric i-MiEV vehicle. Shares of Sharp Corp. 6753, -2.64% SHCAF, -8.78% fell 1.8% as another Nikkei report said it was scaling down production of its smaller LCD panels. Financials were also mostly lower ahead of a Bank of Japan decision due out later in the day, expected to result in no major change to policy but with the extension of some expiring loan programs. Mizuho Financial Group Inc. 8411, -1.06% MFG, -0.60% fell 0.8%, Sumitomo Mitsui Financial Group Inc. 8316, -1.86% SMFG, -0.86% lost 1.6%, and Daiwa Securities Group Inc. 8601, -2.65% DSECF, -5.31% gave up 1%. Among major names on the rise, meanwhile, Sony Corp. 6758, +5.14% SNE, +0.73% added 3.3%, Fast Retailing Co. 9983, -0.93% FRCOF, -1.38% edged up 0.4% and Japan Airlines Co. 9201, +1.75% JAPSY, -5.58% rose 0.9% on falling fuel prices.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
