After three days of recovery, the Tokyo Stock Exchange closed the week of decline.
Nikkei ended at 20,020.94, down 0.83 percent in today’s trading. The broader Topix index pulled down 0.37 percent to 1618.84.
Energy and Finance draws up while flyaksjer punished. Detergent and cosmetics giant Kao weigh after weak quarterly figures.
The yen remains strong against the dollar after several weak macroeconomic figures from the US yesterday.
– Since the Nikkei has risen too quickly, a correction short term likely. We see few catalysts that can lift the market now, says technical senior analyst Hikaru Sato at Daiwa Securities said.
Asia section here.
– Time to take some profit
broker manager Andrew Clarke in Hong Kong brokerage Mira Baud Asia looks more positive signs.
– Investors who have missed the rally in some markets are still coming in. But we must also come to a point in some markets where there is time to take some profit, he says to Bloomberg.
Otherwise in Asia falls Hang Seng in Hong Kong 0.6 per cent, while large cap indices CSI 300 Shanghai pulls down 1.8 percent.
Seoul stock exchange are minus 0.8 percent.
Bright spots are exchanges in Taiwan and Australia, which rises respectively. one and 1.5 percent. The latter is drawn up by mining stocks, which gets boost from rising iron ore prices.
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