RTTNews - The stock market in Japan ended in negative territory on Thursday following weak closing in Wall Street in the previous session, and strengthening of the local currency against the greenback. Traders preferred to lock in gains and move to the sidelines ahead of the key economic data in the U.S. related to jobs.
The benchmark Nikkei 225 Index ended at 10,215, representing a loss of 65.82 points, or 0.640%, while the broader Topix index of all first section stocks were down 7.04 points, or 0.74%, to 943.
Light sweet crude oil price for October delivery ended at $68.28 a barrel in electronic trading, up $0.23 from its previous close $68.05 a barrel in New York on Wednesday.
Exporters and automakers led the declines after the local currency strengthened against the US dollar, as a stronger yen reduces the amount of realization of export proceeds in local currency and dents profit margins.
Among automakers, Suzuki Motor declined 3.20%, Honda Motor fell 2.41%, Isuzu Motors slumped 5.02%, Toyota Motor shed 1.79%, and Nissan Motor lost 2.50%. However, Mitsubishi Motor managed to end the session unchanged from previous close.
Shipping stocks also ended in negative territory, after Nomura Holdings revised the rating for Kawasaki Kisen, the third largest shipping line in the country. The stock declined 1.76%. Among others, Mitsui OSK Lines dropped 0.70% and Nippon Yusen fell 0.76%.
Financial stocks also ended weaker on concerns about the pace of economic recovery. Sumitomo Mitsui Financial fell 1.28%, Mizuho Financial lost 2.28%, Mitsubishi UFJ Financial declined 2.93% and Resona Holdings declined 1.11%.
Among oil stocks, Nippon Oil Corp fell 1.32%, Nippon Mining Holdings edged down 0.22% and Showa Shell slipped 0.73%.
Trading companies ended mixed. Mitsubishi Corp. gained 1.15%, Mitsui & Co., added 0.34%, and Sumitomo Corp. edged up 0.22%. However, Toyoto Tsusho Corp. ended in negative territory with a loss of 0.78%.
In the U.S., stocks ended in the negative territory for the third successive day on Wednesday amid lackluster trading as traders largely shrugged off economic data and looked towards key employment data to close out the week
The Dow closed down 29.93 points or 0.3 percent at 9,280.67, the Nasdaq fell by 1.82 points or 0.1 percent to 1,967.07 and the S&P 500 declined by 3.29 points or 0.3 points to close at 994.75.
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