AIRLINK 189.36 Increased By ▲ 1.33 (0.71%)
BOP 11.10 Decreased By ▼ -0.76 (-6.41%)
CNERGY 7.28 Decreased By ▼ -0.26 (-3.45%)
FCCL 36.65 Decreased By ▼ -1.14 (-3.02%)
FFL 14.95 Decreased By ▼ -0.29 (-1.9%)
FLYNG 26.19 Increased By ▲ 0.66 (2.59%)
HUBC 130.89 Increased By ▲ 0.74 (0.57%)
HUMNL 13.47 Decreased By ▼ -0.14 (-1.03%)
KEL 4.28 Decreased By ▼ -0.07 (-1.61%)
KOSM 6.08 Decreased By ▼ -0.09 (-1.46%)
MLCF 45.94 Increased By ▲ 0.26 (0.57%)
OGDC 201.86 Decreased By ▼ -4.57 (-2.21%)
PACE 6.12 Decreased By ▼ -0.26 (-4.08%)
PAEL 38.36 Decreased By ▼ -1.95 (-4.84%)
PIAHCLA 16.73 Decreased By ▼ -0.22 (-1.3%)
PIBTL 7.94 Decreased By ▼ -0.09 (-1.12%)
POWER 9.86 Decreased By ▼ -0.17 (-1.69%)
PPL 173.46 Decreased By ▼ -5.38 (-3.01%)
PRL 34.73 Decreased By ▼ -1.63 (-4.48%)
PTC 23.95 Decreased By ▼ -0.44 (-1.8%)
SEARL 101.74 Decreased By ▼ -1.42 (-1.38%)
SILK 1.07 No Change ▼ 0.00 (0%)
SSGC 32.70 Decreased By ▼ -3.54 (-9.77%)
SYM 17.93 Decreased By ▼ -0.30 (-1.65%)
TELE 8.14 Decreased By ▼ -0.24 (-2.86%)
TPLP 12.02 Decreased By ▼ -0.14 (-1.15%)
TRG 67.40 Increased By ▲ 0.07 (0.1%)
WAVESAPP 11.80 Decreased By ▼ -0.21 (-1.75%)
WTL 1.52 Decreased By ▼ -0.05 (-3.18%)
YOUW 3.90 Increased By ▲ 0.01 (0.26%)
BR100 11,819 Decreased By -87.9 (-0.74%)
BR30 35,000 Decreased By -554.1 (-1.56%)
KSE100 112,085 Decreased By -478.8 (-0.43%)
KSE30 34,946 Decreased By -148 (-0.42%)

TOKYO: Tokyo stocks closed lower on Monday, giving up early gains spurred by a positive Bank of Japan business confidence survey as sentiment reverted to risk-off on renewed concerns over US rates.

The benchmark Nikkei 225 index lost 0.31 percent, or 97.74 points to 31,759.88, while the broader Topix index ended down 0.39 percent, or 8.95 points, at 2,314.44.

After rising 1.4 percent in the morning, Japanese stocks gave up early gains as “it appears that foreign investors who are seeking short-term profits have finished their purchases, while loss-cutting sell orders weighed on the market,” Daiwa Securities said.

The Japanese market enjoyed a rally in early trade as “investor sentiment improved thanks to avoiding of a US government shutdown” over the weekend, IwaiCosmo Securities said.

Positive figures from the Bank of Japan’s business confidence survey released before the opening bell also “prompted a risk-on sentiment” in morning trade, IwaiCosmo said.

Confidence among Japan’s largest manufacturers rose as business conditions improved for the second-straight quarter, the central bank’s Tankan survey showed.

Among major manufacturers, business confidence rose to plus nine from plus five three months earlier, beating market expectations of plus six.

The survey reports the difference between the percentage of firms that are upbeat and those that see conditions as unfavourable.

Optimism also grew among non-manufacturers, from plus 23 to plus 27, against market expectations of plus 24.

The dollar fetched 149.65 yen in Asian trade, against 149.40 yen in New York late Friday.

Among major shares in Tokyo, Sony Group slipped 0.29 percent to 12,205 yen, top train operator East Japan Railway dropped 2.98 percent to 8,300 yen, and airline ANA Holdings fell 2.62 percent to 3,051 yen.

Toyota added 0.35 percent to 2,687 yen. Chip-testing equipment maker Advantest gained 2.87 percent to 4,301 yen.

Comments

Comments are closed.