The Japanese Nikai Nikai index abandoned its early gains to be traded without change today, Wednesday, with investors selling shares of heavy -related companies to reap profits from the last height.
Nikai fell 0.03 percent to 39677.42 by midday (local time), after 0.7 percent rose earlier in the day to 39971.06. The index swing between the gains and marginal losses during the session.
The broader Topix index rose 0.3 percent to 2824.93 points.
“The Nikai index opened at an altitude supported by twice the yen against the dollar. But once Nikai rose near the level of 40,000 points, investors sold stocks to reap profits,” said Shotaro Yasuda, market analyst in Tokai Tokyo Intelgence Labratore.
“The market is coherent with the high index,” he added.
The two shares with heavyweight, attached to electronic chips, Edfantist and Tokyo Electron, abandoned their early gains, for the first to decline 1.87 percent and the second 0.92 percent.
The share of the company, Fast Retelling, lost 1.18 percent, lost 1.18 percent.
The shares of car manufacturers increased against the backdrop of twice the yen, as Toyota Motor shares rose 1.36 percent and Honda Motor 2.83 percent.
The yen fell 0.2 percent to 146.91 against the dollar. The dollar continued its gains after US President Donald Trump pledged to issue more trade -related ads after imposing 25 percent customs duties on Japan and other commercial partners.
The weakness of the Japanese currency tends to strengthen the shares of exporters, as it increases the value of the Japanese -yen external profits when companies transfer them to Japan.
Energy -related stocks rose after oil prices recorded their highest level in two weeks during the night. The oil refining companies index jumped three percent to become the best performance between the 33 sub -indicators on the Tokyo Stock Exchange.
Of more than 1,600 shares being traded in the main market of the Tokyo Stock Exchange, 82 percent rose, 15 percent decreased and two percent stabilized.