Tokyo stocks close lower in cautious trading

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Stocks opened higher following another record close on Wall Street, but profit-taking erased early gains in late trading.
Stocks opened higher following another record close on Wall Street, but profit-taking erased early gains in late trading.
Photography by ZhangXun
  • Tokyo stocks closed lower Thursday as investors remained cautious.
  • Stocks opened higher following another record close on Wall Street, but profit-taking erased early gains in late trading.
  • The benchmark Nikkei 225 index fell 0.19% to 30 236.09, while the broader Topix index was down 1.00% at 1 941.91.


Tokyo stocks closed lower Thursday as investors remained cautious about over-valuation after recent rallies.

The benchmark Nikkei 225 index fell 0.19%, or 56.10 points, to 30 236.09, while the broader Topix index was down 1.00% at 1 941.91.

Stocks opened higher following another record close on Wall Street, but profit-taking erased early gains in late trading.

"Investors locked in profits as they remained cautious about the recent surge," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"But today's decline was still seen as a temporary adjustment as positive sentiment remains intact," Horiuchi told AFP.

The dollar fetched 105.89 yen in Asian afternoon trade, against 105.86 yen in New York.

Honda dipped 1.16% to 3 052 yen after reports said Toshihiro Mibe, currently head of research and development, will be promoted to chief executive, while Takahiro Hachigo will step down as CEO.

A Honda spokesperson declined to comment when contacted by AFP.

Toyota dropped 1.86% to 8 093 yen and Sony lost 1.63% to 12 000 yen, with SoftBank Group down 0.62% at 10 340 yen.

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