Roundup: Tokyo stocks close slightly lower after Nikkei's 7.5-month high

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TOKYO, Oct. 9 (Xinhua) -- Tokyo stocks closed slightly lower Friday as market players took quick profits a day after the benchmark Nikkei hit a seven-and-a-half month high.

The 225-issue Nikkei Stock Average decreased 27.38 points, or 0.12 percent, from Thursday to close the day at 23,619.69.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, finished 8.09 points, or 0.49 percent lower at 1,647.38.

Real estate, securities brokerage and land transportation issues comprised those that decreased the most by the close of play.

Shares remained in negative territory through most of the trading day with the retreat coming after the Nikkei closed Thursday at its highest level since Feb. 14.

Tokyo stocks closed at its highest level Thursday as the market mood was bolstered by renewed hopes for fresh U.S. stimulus measures to help underpin the world's largest economy which has been hard hit by the coronavirus pandemic.

"The market was capped by profit-taking as investors took a cue from (the Nikkei) advancing significantly (the previous day)," said Maki Sawada, vice president of the investment research and investor services department at Nomura Securities Co.

Moreover, market players are divided on the outlook for a coronavirus stimulus deal in the United States after U.S. President Donald Trump said talks with Congress had resumed but House Speaker Nancy Pelosi ruled out support for any stand-alone bills without comprehensive aid, according to Sawada.

But the drop was limited ahead of Japanese corporate earnings results for the July-September period as Yaskawa Electric, an industrial robot producer, is scheduled to kick off the earnings season later in the day.

An upbeat Chinese market that reopened after a weeklong holiday supported the Tokyo market with gains in the retail sector, according to Chihiro Ota, general manager of investment research at SMBC Nikko Securities Inc.

Steelmakers and securities brokerage issues decreased after their recent gains. Nippon Steel sagged 21.50 yen, or 1.9 percent, to 1,087.50 yen, while SBI Holdings fell 25 yen, or 0.9 percent, to 2,645 yen.

Ryohin Keikaku, the operator of the Muji-brand goods store chain, increased 188 yen, or 10.5 percent, to 1,981 yen. Its earnings projection for the year through next August released the day before beat market expectations.

On the First Section, declining issues outnumbered advancers 1,405 to 690, while 84 finished unchanged at the end of the trading day.

Trading volume on the main section decreased to 1,013.62 million shares compared to Thursday's 1,029.23 million shares. Enditem

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