Tokyo’s stock market close lower before election
(MENAFN)
Tokyo’s stock market closed lower on Friday as investors adopted a cautious stance ahead of the upcoming House of Councillors election scheduled for this weekend.
Japan’s leading benchmark, the Nikkei 225, dropped 82.08 points—or 0.21%—to finish at 39,819.11. Meanwhile, the broader Topix index declined by 5.33 points, or 0.19%, settling at 2,834.48.
Early trading mirrored gains seen on Wall Street overnight, but those advances were later wiped out as traders sold shares to secure profits, particularly after the Nikkei briefly surpassed the 40,000 mark for the first time in two weeks, analysts noted.
Market sentiment remained cautious due to uncertainty surrounding the election, with opinion polls indicating that the ruling coalition may face significant challenges in retaining power.
Tokyo’s stock market closed lower on Friday as investors adopted a cautious stance ahead of the upcoming House of Councillors election scheduled for this weekend.
Japan’s leading benchmark, the Nikkei 225, dropped 82.08 points—or 0.21%—to finish at 39,819.11. Meanwhile, the broader Topix index declined by 5.33 points, or 0.19%, settling at 2,834.48.
Early trading mirrored gains seen on Wall Street overnight, but those advances were later wiped out as traders sold shares to secure profits, particularly after the Nikkei briefly surpassed the 40,000 mark for the first time in two weeks, analysts noted.
Market sentiment remained cautious due to uncertainty surrounding the election, with opinion polls indicating that the ruling coalition may face significant challenges in retaining power.
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