Tokyo's Nikkei closes up for fourth straight session
- 14 Aug 2020
Tokyo's benchmark Nikkei index rose for a fourth consecutive session Friday on a weak yen, but early gains were largely erased by profit-taking.
The Nikkei 225 index edged up 0.17 percent, or 39.75 points, to close at 23,289.36. Over the holiday-shortened week, it gained 4.3 per cent. The broader Topix index inched down 0.05 per cent, or 0.77 points, to 1,623.38, but was up 5.0 per cent from a week earlier.
"A weak yen has been a factor behind the current positive sentiment," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.
"But profit-taking can easily emerge at this level of shares," he told AFP.
Okasan Online Securities said in a note: "There will be an adjustment from recent days of gains while talks have stalled in the United States over additional economic stimulus."
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"These factors make it difficult to encourage aggressive buying," the brokerage added.
The dollar stood at 106.82 yen in Asian afternoon trade, slightly down from 106.91 yen in New York on Thursday but still up from 105 yen levels a week ago.
Among winners in Tokyo, Sony jumped 2.02 percent to 8,876 yen with Nintendo up 0.23 percent at 51,320 yen.
Nissan rose 0.09 percent to 416.5 yen but Toyota fell 1.42 percent to 7,181 yen on profit-taking.
Mitsui OSK Lines lost 0.63 percent to 1,877 yen following recent volatile trade as a ship operated by the firm ran aground and leaked oil off Mauritius.
Agence France-Presse
