Don’t miss the latest developments in business and finance.

Nikkei slips from 3-week high on profit-taking

Investors look at corporate earnings, ignore G20's pledge

Reuters Tokyo
Last Updated : Feb 24 2014 | 2:14 PM IST

Japan's Nikkei average eased from a three-week high in an erratic session on Monday as a firmer yen and weak Asian markets triggered profit-taking following recent sharp gains.

Many investors stayed on the sidelines looking for clearer signs of improvement in Japanese corporate earnings, giving no more than a passing nod to the Group of 20's latest commitment to spur faster global growth.

The benchmark Nikkei closed down 0.2% at 14,837.68, after surging 2.9% on Friday.

The Nikkei on Monday advanced as much as 0.8% to 14,982.53, its highest level since January 31, and fell as much as 1.4% to 14,658.14 during the course of trade.

The broader Topix index fell 0.3% to 1,219.07, with 2.32 billion shares changing hands, among the lowest volume so far this year.

The JPX-Nikkei Index 400, an index launched this year comprised of firms with high return on equity and strong corporate governance, dropped 0.3% to 11,030.48.

Also Read

First Published: Feb 24 2014 | 1:53 PM IST

Next Story