RTTNews - The stock market in Japan snapped its rally and ended in the red Wednesday as traders preferred to lock in gains. Weak trading across the other markets in the region also impacted the sentiment.
The benchmark Nikkei 225 Index ended the session at 10,253, down 122.48 points, or 1.18%, while the broader Topix index of all first section stocks snapped its 13-day gains and ended in the red with a loss of 9.44 points, or 0.98% at 950.
In the U.S., stocks ended in positive territory amid choppy trading as positive economic data on pending home sales and personal income & spending more than offset weak earnings results from home-building companies such as Pulte Homes and DR Horton. Buying interest in late session on hopes of recovery helped the indices end above the unchanged line.
The Dow closed up by 33.63 points or 0.4% at 9,320, the Nasdaq advanced by 2.70 points or 0.1% to 2,011 and the S&P 500 rose by 3.02 points or 0.3% to 1,006.
Light sweet crude oil price for September delivery ended at $71.30 a barrel in electronic trading, down $0.12 from its previous close $71.42 a barrel in New York on Tuesday.
Automotive stocks led the decline after Isuzu Motors reported that it swung to loss in the first quarter. The shares fell 4.68%. Among other automakers, Honda Motor fell 1.32%, Hino Motors lost 3.00%, Suzuki Motor declined 2.39% and Toyota Motor dropped 1.29%.
Retail stocks also ended weaker. Fast Retailing lost 3.47%, J Front Retailing fell 3.05% and Aeon Co. dropped 1.38%.
Trading companies ended mixed. Mitsubishi Corp. lost 1.28%. Toyoto Tsusho Corp. fell 1.57% and Itochu Corp. slumped 2.49%. However, Sumitomo Corp edged up 0.10% and Mitsui & Co., advanced 1.92%.
Shipping stocks also ended mixed. While Kawasaki Kisen added 0.80%, Nippon Yusen fell 1.20% and Mitsui OSK Lines lost 1.32%.
Banks ended in the red on profit taking. Sumitomo Mitsui Financial declined 1.93%, Resona Holdings lost 2.80%, Mizuho Financial dropped 1.30% and Mitsubishi UFJ Financial slipped 0.83%.
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