The benchmark Nikkei stock average bounced back in Tokyo on Thursday, although a wait-and-see mood continued ahead of big events. The 225-issue Nikkei average on the Tokyo Stock Exchange climbed 32.95 points, or 0.14 percent, to end at 23,424.81 after falling 18.33 points Wednesday. Meanwhile, the Topix index of all TSE first-section issues finished down 2.12 points, or 0.12 percent, at 1,712.83 after a 5.82-point drop the previous day. After opening higher following an overnight Wall Street gain, the Tokyo market slid into the minus side in midmorning trading, weighed down by a strengthening of the yen against the dollar, brokers said. The Nikkei average gradually cut its losses and then turned positive, thanks to a rise in the semiconductor sector and a halt in the yen's appreciation, they added.
The benchmark Nikkei stock average hit a 13-week closing low below 23,000 on Thursday, hurt by lingering concerns over an economic slowdown arising from the continued spread of the new coronavirus. Tokyo stocks were also weighed down by fresh worries about business results at Japanese companies amid earnings report season. The Nikkei average of 225 selected issues on the first section of the Tokyo Stock Exchange dived 401.65 points, or 1.72 percent, to end at 22,977.75, hitting a closing level unseen since Nov. 1 and its first finish below 23,000 since the same date. On Wednesday, the key market gauge rose 163.69 points. The Topix index of all TSE first-section issues finished down 25.18 points, or 1.48 percent, at 1,674.77, after gaining 7.67 points the previous day.
Stocks closed lower on the Tokyo Stock Exchange on Wednesday, as investors grew concerned about the results of the closely watched U.S. midterm elections. The key 225-issue Nikkei average fell 61.95 points, or 0.28 percent, to end at 22,085.80. It gained 248.76 points Tuesday. The Topix index of all first-section issues finished down 6.92 points, or 0.42 percent, at 1,652.43. It rose 18.96 points the previous day.
Stocks turned sharply lower on the Tokyo Stock Exchange on Thursday as heavy selling pummeled telecommunications issues. The 225-issue Nikkei average plunged 232.81 points, or 1.06 percent, to end at 21,687.65, after surging 463.17 points Wednesday. The Topix index of all first-section issues closed down 14.07 points, or 0.85 percent, at 1,632.05. It rose 34.66 points the previous day. The telecommunications sector rout came after major carrier NTT Docomo announced Wednesday that it will cut monthly mobile phone rates by 20-40 percent from the April-June quarter next year.