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Tokyo stocks snap winning streak over Wall Street decline

0 Comment(s)Print E-mail Xinhua, December 13, 2024
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TOKYO, Dec. 13 (Xinhua) -- Tokyo stocks ended the four-day winning streak on Friday, triggered by an overnight drop in U.S. stocks that prompted profit-taking across a broad range of shares.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed 378.70 points, or 0.95 percent, lower at 39,470.44.

In the U.S. stock market the previous day, major indices, including the Dow Jones Industrial Average, declined. The weakness in U.S. tech stocks weighed on Japan's semiconductor sector, with Tokyo Electron among the decliners.

The Nikkei had briefly surpassed the psychologically significant 40,000 mark during the previous trading session for the first time in two months. However, rapid gains sparked caution among investors. Analysts noted that while the pace of the rally prompted some adjustment, the market could rebound after upcoming central bank events in Japan and the U.S. next week.

The yen's weakness against the U.S. dollar provided some support. The yen-dollar exchange rate hit the lower 153 yen range, marking its weakest level in about two weeks since November 27.

The broader Topix index also declined for the first time in five sessions, ending 26.47 points, or 0.95 percent, lower at 2,746.56.

On the Tokyo Stock Exchange's Prime section, decliners outnumbered advancers, with 1,053 stocks falling, 530 rising, and 61 remaining unchanged. Enditem

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