Tokyo stocks close marginally lower
- 26 Aug 2020
Tokyo stocks closed marginally lower on Wednesday, snapping a three-day winning streak, with some investors seeking to lock in profits as few fresh trading cues emerged.
The benchmark Nikkei 225 index inched down 0.03 per cent, or 5.91 points, to end at 23,290.86, while the broader Topix index slipped 0.05 per cent, or 0.75 points, to 1,624.48.
"The Japanese market today lacked a sense of direction so investors were in wait-and-see mode," Okasan Online Securities said in a commentary.
In addition, they were cautious ahead of the Jackson Hole Economic Policy Symposium this week, when international central bankers will gather in Wyoming in the US, it said.
They were also eyeing a press conference Japan Prime Minister Shinzo Abe is expected to hold Friday to discuss his health after two hospital trips for medical checks.
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In Tokyo, pharmaceuticals were lower, with drug giant Takeda losing 0.73 per cent to 4,026 yen and Shionogi dropping 1.55 per cent to 6,090 yen.
Nintendo jumped 2.67 per cent to 57,530 yen while Sony gained 1.75 per cent to 8,571 yen and SoftBank Group rose 3.38 per cent to 6,640 yen.
Honda was up 0.42 per cent to 2,710.5 yen after a report said its Japanese plant will assume part of the production previously done at the Swindon facility in the UK when it closes next year.
Its bigger rival Toyota slipped 0.36 per cent to 7,123 yen.
The dollar fetched 106.38 yen in Asian trade, against 106.35 yen in New York.
Agence France-Presse