TOKYO: Tokyo shares posted a modest rise on Thursday, slowing their recent advance as investors took profits a day after the benchmark Nikkei Stock Average closed above the 20000 mark for the first time in 15 years.
A continuing surge in brokerage shares helped the major indexes stay in positive territory, helped by speculation that the central bank may lean towards more monetary easing.
The Nikkei Stock Average ended up 0.3 per cent at 20187.65 after surging 2.5 per cent over the prior two days to eclipse the 20000 mark on Wednesday, an indication of the improved appetite for Tokyo stocks among investors.
Stronger overnight Wall Street shares and an initially stronger dollar helped exporters early. But the greenback came under selling pressure after crossing the Y120.00 threshold, triggering profit-taking in stocks. The dollar was at Y119.81 as of the TSE close at 0600 GMT.
The market is ripe for a pullback after strong recent advances, Mizuho Securities senior technical analyst Yutaka Miura said. Still, it may not be too overbought, he added.
