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Japan's Nikkei end lower as earnings season starts

TOKYO
2024-05-09 16:15

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TOKYO, May 9 (Xinhua) - Japan's benchmark Nikkei stock index closed lower on Thursday over cautious market sentiment as Japan entered earnings season.

The 225-issue Nikkei Stock Average ended down 128.39 points, or 0.34 percent, from Wednesday to close the day at 38,073.98.

The broader Topix index, meanwhile, finished 7.03 points, or 0.26 percent, higher at 2,713.46.

Market watchers here noted that while investors took a wait-and-see attitude over local corporate earnings and outlook, concerns about additional rate hikes by the Bank of Japan and the rise in domestic long-term interest rates triggered selling pressure on high-tech stocks and growth stocks in Tokyo.

On the Prime Market, gainers were led by insurance and bank issues.

Issues that advanced outpaced those that declined by 1,081 to 519, while 51 ended the day unchanged.
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