Thursday, April 21, 2005

Net sale of stocks from Tokyo dampens Nikkei

by Brian Turner

A report from the Ministry of Finance in Japan that foreign investors had sold ¥126 billion of Japanese stocks in the week ending April 16 after a net purchases the previous week, along with worries about inflation in the U.S., combined to send the Tokyo markets down in Thursday’s trading.

The Topix index was down by 0.7 percent, to close at 1,123.32. The Nikkei 225 closed at a loss of 0.9 percent, at 10,984.39. Earlier in the day it had been down to 10,770.58, the lowest it had been since mid-December.

Most sectors were down, including electronics, toy making, shipping, precision machinery, and construction.

Otherwise, the Asian markets were mostly positive Thursday after overcoming early losses. Taipei rose by 0.5 percent, closing at 5,721.99, in Seoul theweighted index finished up 0.2 percent at 939.14, also after a period of losses, and in Hong Kong, the Hang Seng index closed 0.7 percent higher, at 13,597.31, with retailers showing gains.

 

 

 

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