Japan Nikkei closes down as gains locked in

Japan share market finished session lower on Tuesday, 20 February 2024, as profit-taking triggered after key benchmark indices hit fresh 34-year highs. However, market losses capped. As some export-related issues were sought on a weaker yen against greenback.

At closing bell, the 225-issue Nikkei Stock Average index declined 106.77 points, or 0.28%, to 38,363.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 7.39 points, 0.28%, to 2,632.30.

Total 24 of 33 TSE sectors closed down, with Insurance, Pulp & Paper, Fishery, Agriculture & Forestry, Securities & Commodities Futures, and Services issues being notable losers, while Machinery, Marine Transportation, and Pharmaceutical issues were notable gainers.

Among individual shares, Nintendo shares declined 1.1%, extending yesterdays 5.8% drop, after reports said its next-generation console would be delayed.

CURRENCY NEWS: Japanese yen depreciated to lower 150 range against greenback on Tuesday, supported partly by buying from domestic importer. The yen depreciated to 150.17 against greenback, compared with 149.97 on Monday.

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