Tuesday, 02 January 2024 12:17 GMT

Tokyo Stocks Close Thursday in Red


(MENAFN) Tokyo equities retreated Thursday as investors moved to cash in on the previous session's sharp gains, with lingering uncertainty over the staying power of the US-Iran ceasefire keeping broader sentiment in check.

The benchmark Nikkei 225 closed down 413.10 points, or 0.73 percent, at 55,895.32, while the wider Topix index shed 33.83 points, or 0.90 percent, to finish at 3,741.47.

On the top-tier Prime Market, air transportation, retail, and real estate sectors led the declines.

Shares briefly edged higher at the open, buoyed by overnight gains on Wall Street, but the early optimism gave way to sustained profit-taking as the session progressed.

Market analysts noted that upward momentum remained constrained, with many investors choosing to stay on the sidelines ahead of pivotal US-Iran peace talks set to commence later this week in Islamabad — a development traders are watching closely for signals on the ceasefire's durability.

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