Tokyo shares close lower led by Elpida, NEC Electronics after Wall St slide |
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Fri, 26 Jan 2007 07:49
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TOKYO (XFN-ASIA) - Share prices closed the day lower after US stocks fell overnight and with investors also discouraged by the declines at Elpida Memory and NEC Electronics, dealers said.Tamer-than-expected December inflation data released this morning sparked selling among key banking stocks, while fresh geopolitical concerns added to the negative mood after a report that North Korean leader Kim Jong-Il was absent from Pyongyang and might be under house arrest, they said.But gains in domestic demand-related shares such as electric utilities helped trim the marrket's losses, they said.Analysts expect the benchmark Nikkei 225 index to be rangebound next week, moving within 17,200-17,500 points, with sentiment turning cautious amid the quarterly reporting season in Japan and the US and ahead of key economic data releases in both Japan and the US.The blue-chip Nikkei 225 Stock Average closed down 36.37 points or 0.21 pct at 17,421.93, off a low of 17,300.84. For the week, the index had gained 0.6 pct.The broader TOPIX index of all first-section issues ended the day down 1.38 points or 0.08 pct at 1,728.02, off a low of 1,714.92. For the week, the index had added 0.8 pct.US stocks retreated overnight after the National Association of Realtors said sales of US existing homes fell 0.8 pct in December to a seasonally adjusted annual rate of 6.22 mln.(1 usd = 121.43 yen)yasuhiko.seki@xfn.com
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Tokyo shares close lower on profit-taking, options-linked selling - UPDATE 