Japan Nikkei falls on profit booking

Japan stock market finished session lower on Monday, 18 October 2021, as investors opted to book part profit after sizable gains in the previous two sessions on caution ahead of the corporate earnings and looming general elections. However, market losses capped on expectations that the Japanese government will issue fresh pandemic stimulus after the October 31 general election.

At closing bell, the 225-issue Nikkei Stock Average fell 43.17 points, or 0.15%, to 29,025.46. The broader Topix index of all First Section issues on the Tokyo Stock Exchange declined 4.70 points, or 0.23%, to 2,019.23. Trading volume turnover on the main section stood at 1.08 billion shares worth 2.53 trillion yen.

Total 18 of 33 industry groups ended lower along with the Topix, with worst performing issues were Pharmaceutical (down 1.6%), Fishery, Agriculture & Forestry (down 1.4%), Foods (down 1.37%), Services (down 1.25%), and Retail Trade (down 0.9%), while best performing sectors included Mining (up 5%), Oil & Coal Products (up 2.3%), Nonferrous Metals (up 2.3%), and Iron & Steel (up 2.1%).

CURRENCY NEWS: The dollar stood at 114.26 yen in Asian afternoon trade, slightly down from 114.28 yen in New York on Friday but up from the 112-yen level a week before.

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