AGL 41.20 Decreased By ▼ -0.30 (-0.72%)
AIRLINK 126.99 Decreased By ▼ -1.01 (-0.79%)
BOP 6.54 Increased By ▲ 0.28 (4.47%)
CNERGY 4.13 No Change ▼ 0.00 (0%)
DCL 8.61 Increased By ▲ 0.17 (2.01%)
DFML 41.40 Increased By ▲ 0.71 (1.74%)
DGKC 87.15 Decreased By ▼ -0.75 (-0.85%)
FCCL 33.60 Decreased By ▼ -0.50 (-1.47%)
FFBL 65.90 Decreased By ▼ -0.43 (-0.65%)
FFL 10.46 Decreased By ▼ -0.10 (-0.95%)
HUBC 110.26 Increased By ▲ 1.56 (1.44%)
HUMNL 14.72 Increased By ▲ 0.26 (1.8%)
KEL 4.85 Increased By ▲ 0.20 (4.3%)
KOSM 7.95 Increased By ▲ 0.62 (8.46%)
MLCF 42.00 Decreased By ▼ -0.72 (-1.69%)
NBP 61.34 Increased By ▲ 0.50 (0.82%)
OGDC 182.15 Increased By ▲ 3.18 (1.78%)
PAEL 25.18 Decreased By ▼ -0.52 (-2.02%)
PIBTL 6.20 Increased By ▲ 0.14 (2.31%)
PPL 147.49 Increased By ▲ 1.34 (0.92%)
PRL 24.75 Decreased By ▼ -0.16 (-0.64%)
PTC 16.17 Increased By ▲ 0.03 (0.19%)
SEARL 69.85 Decreased By ▼ -0.35 (-0.5%)
TELE 7.35 Increased By ▲ 0.13 (1.8%)
TOMCL 36.35 Increased By ▲ 0.15 (0.41%)
TPLP 7.87 Increased By ▲ 0.03 (0.38%)
TREET 15.26 Decreased By ▼ -0.33 (-2.12%)
TRG 52.18 Increased By ▲ 1.82 (3.61%)
UNITY 26.91 Increased By ▲ 0.01 (0.04%)
WTL 1.24 No Change ▼ 0.00 (0%)
BR100 9,838 Increased By 43.2 (0.44%)
BR30 29,962 Increased By 315.1 (1.06%)
KSE100 92,403 Increased By 381.9 (0.42%)
KSE30 28,756 Increased By 91.1 (0.32%)

TOKYO: Japan’s Nikkei share average reversed course to trade lower on Thursday, as investors booked profits from sharp gains in the previous session.

The Nikkei was down 0.33% at 39,349.23, as of 0200 GMT, after rising 2.6% on Wednesday to a three-week closing high.

The benchmark rose as much as 1% earlier in the session, tracking Wall Street’s record close overnight after Republican Donald Trump won the 2024 US presidential election.

Trump’s victory unleashed a massive rally in the dollar, drove stocks to record highs and punished bond prices.

“Nikkei’s reversal indicated that the sharp gains in the previous session were led by short-term investors who bet on a rally on Trump trades,” said Takehiko Masuzawa, trading head at Phillip Securities Japan.

“They quickly sold stocks to book profits.” Uniqlo-brand owner Fast Retailing fell 2.52% to become the biggest drag on the Nikkei. Chip-making equipment maker Tokyo Electron lost 2.5%.

Home interior goods maker and retailer Nitori Holdings slipped 5.57%.

The broader Topix rose 0.91% to 2,740.54, with Toyota Motor up 4.27%.

Nikkei ends at 3-week high

Financials gained as bond yields rose, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group up 2.68% and 1.99%, respectively.

Insurer Tokio Marine Holdings gained 2.8%. Honda Motor inched up 0.07% after falling 6.4% in the previous session.

Of the 225 Nikkei components, 155 stocks rose, 69 fell, and one traded flat.

Comments

200 characters