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Tokyo's Nikkei index closes lower

AFP . Tokyo
01 Dec 2023 17:45:38 | Update: 01 Dec 2023 17:45:38
Tokyo's Nikkei index closes lower
— AFP File Photo

Tokyo's key Nikkei 225 index ended lower on Friday, with a dearth of fresh market-moving events and some profit-taking weighing on the market.

The benchmark Nikkei 225 index slipped 0.17 per cent, or 55.38 points, to 33,431.51, while the broader Topix index ended up 0.32 per cent, or 7.59 points, at 2,382.52.

Despite gains in the US Dow index overnight, "sell-orders overwhelmed buy-orders with lack of fresh clues for trade", Iwai Cosmo Securities said in a note.

The dollar fetched 148.05 yen in Asia, off from 148.14 seen in New York, but up from 146.99 yen seen in Tokyo on Thursday.

Tech stocks faced selling pressure, after US high-tech shares slumped overnight, including chipmaker Nvidia, which lost 2.85 per cent.

Among major shares in Tokyo, Sony Group lost 0.78 per cent to 12,720 yen and Panasonic fell 1.41 per cent to 1,508.5 yen.

Overnight selling of US semiconductor shares depressed their Japanese peers as well.

Chip-making equipment manufacturer Tokyo Electron dropped 0.73 per cent to 23,850 yen, and chip-testing equipment maker Advantest fell 1.26 per cent to 4,622 yen.

Uniqlo operator Fast Retailing slipped 1.04 per cent to 37,100 yen, but Toyota advanced 1.38 per cent to 2,833 yen.

Meanwhile, Hong Kong shares sank Friday following a mixed lead from Wall Street, even after data showed US inflation fell further in October, ramping up bets on an interest rate cut early next year.

The Hang Seng Index fell 1.25 per cent, or 212.58 points, to 16,830.30.

The Shanghai Composite Index rose 0.06 per cent, or 1.96 points, to 3,031.64, and the Shenzhen Composite Index on China's second exchange added 0.25 per cent, or 4.77 points, to 1,887.98.

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