AGL 38.30 Increased By ▲ 0.73 (1.94%)
AIRLINK 131.90 Decreased By ▼ -0.60 (-0.45%)
BOP 5.60 Decreased By ▼ -0.04 (-0.71%)
CNERGY 3.85 Increased By ▲ 0.08 (2.12%)
DCL 8.69 Decreased By ▼ -0.18 (-2.03%)
DFML 40.82 Decreased By ▼ -0.18 (-0.44%)
DGKC 88.72 Decreased By ▼ -1.44 (-1.6%)
FCCL 35.25 Increased By ▲ 0.17 (0.48%)
FFBL 66.45 Decreased By ▼ -0.05 (-0.08%)
FFL 10.50 Increased By ▲ 0.35 (3.45%)
HUBC 109.60 Increased By ▲ 3.20 (3.01%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.83 Decreased By ▼ -0.03 (-0.62%)
KOSM 7.09 Increased By ▲ 0.24 (3.5%)
MLCF 42.50 Increased By ▲ 0.70 (1.67%)
NBP 59.49 Increased By ▲ 0.91 (1.55%)
OGDC 184.00 Increased By ▲ 2.75 (1.52%)
PAEL 25.59 Decreased By ▼ -0.11 (-0.43%)
PIBTL 5.90 Increased By ▲ 0.07 (1.2%)
PPL 147.80 Decreased By ▼ -0.60 (-0.4%)
PRL 23.55 Increased By ▲ 0.33 (1.42%)
PTC 16.46 Increased By ▲ 1.22 (8.01%)
SEARL 69.12 Increased By ▲ 0.33 (0.48%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.84 Decreased By ▼ -0.16 (-0.44%)
TPLP 7.55 Increased By ▲ 0.15 (2.03%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.90 Increased By ▲ 0.05 (0.1%)
UNITY 26.89 Increased By ▲ 0.49 (1.86%)
WTL 1.23 Increased By ▲ 0.02 (1.65%)
BR100 9,828 Increased By 60.4 (0.62%)
BR30 29,808 Increased By 407.9 (1.39%)
KSE100 92,358 Increased By 420.4 (0.46%)
KSE30 28,819 Increased By 74.9 (0.26%)

Tokyo stocks closed lower on Monday, hit by fears of a delay in US corporate tax cuts and selling to lock in profits after recent gains. The benchmark Nikkei 225 index lost 1.32 percent, or 300.43 points, to 22,380.99, closing down for a fourth straight day.
The broader Topix index was down 0.94 percent, or 16.95 points, to 1,783.49. US Senate Republicans last week released a tax plan that would put off promised steep corporate tax cuts for a year. Fears over the possible delay sent the Dow lower on Friday, ending eight weeks of gains that had been fuelled by robust company earnings.
The Tokyo market was hit by "uncertainty over the US tax reform", said Toshihiko Matsuno, chief strategist at SMBC Friend Securities. "Also except for major banks, the earnings season is almost over, which means most positive news is out now," Matsuno told AFP. There is also a sense of "achievement" after the Nikkei hit a quarter-century high, he said.
The bellwether index is "overheated in the short-term", said Masayuki Kubota, chief strategist at Rakuten Securities. "It is possible that it will correct its speed for now," he said in a commentary. The dollar edged down to 113.44 yen Monday from 113.50 yen in New York Friday afternoon.
In individual trading, Uniqlo clothing chain operator Fast Retailing, a market heavyweight, fell 3.05 percent to 39,410 yen. SoftBank closed down 0.29 percent at 9,676 yen after US ride-sharing company Uber announced a deal to sell a stake to a consortium led by the Japanese mobile group and Dragoneer investment group.
Major banks were lower with Mizuho down 0.83 percent at 201.3 yen before it announced a 12 percent drop in April-September net profit. Electronics firms also dropped. Panasonic fell 1.97 percent to 1,714 yen while Sony lost 1.04 percent to 5,197 yen.

Comments

Comments are closed.