© 2020 All rights reserved to Maaal Newspaper
Publisher: Maaal International Media Company
License: 465734
Major stock indices in Japan fell from record high levels recorded during early trading on Friday, as investors took profits after a recent rise while awaiting important US economic data scheduled to be issued later in the day.
The Nikkei index closed stable at 40,912.37 points, but was able to record its best weekly performance since late March, and the broader Topix index fell 0.5% to 2,884.18 points at the close.
Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management, said there was a “sense of accomplishment in the market with the two indices achieving record levels.”
Analysts also pointed to some profit-taking after the two indices rose to record levels, and the rise in the yen also pressured the market.
The yen’s decline supported shares of export-related companies such as automakers in the first six months of the year, and the Bank of Japan’s abandonment of ultra-easy monetary policy helped lift banking sector shares.
© 2020 All rights reserved to Maaal Newspaper
Publisher: Maaal International Media Company
License: 465734