Japan Stocks fall on profit-taking

The Japan share market declined on Wednesday, 18 December 2019, as investors took profits on following the lacklustre cues from Wall Street overnight and renewed concerns about Brexit after reports that British Prime Minister Boris Johnson is taking a hard line on Britain's transition period for leaving the European Union. Around late afternoon, the 225-issue Nikkei Stock Average declined 108.26 points, or 0.45%, to 23,957.86, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 7.85 points, or 0.45%, at 1,739.35.

Total 27 issues of the 33 industry category of Topix index dived into negative territory, with Marine Transportation, Pulp & Paper, Real Estate, Pharmaceutical, and Machinery issues being notable losers, while Securities & Commodities Futures, Electric Power & Gas, and Mining issues were notable gainers.

 

The major exporters were mostly lower. Toyota Motor, Honda Motor, Sony, Panasonic, and Mitsubishi Electric declined in between 0.2-2%

CURRENCY NEWS: The Japanese yen, often viewed as a safe-haven currency in times of economic uncertainty, depreciated against greenback and other major currencies. The Japanese yen traded at 109.45 against the dollar, weakening from levels below 109.2 in the last few days.

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