Nikkei skids to 1-week low in choppy trade as mood soured by strong yen

15-Feb-2014 Intellasia | Reuters | 6:00 AM Print This Post

Japan’s Nikkei share average slipped to a one-week low in volatile trade on Friday, giving up earlier gains as sentiment was soured by a stronger yen and as some investors trimmed their exposure ahead of the weekend.

The Nikkei ended down 1.5 percent at 14,313.03, the lowest closing level since February 6 after rising as high as 14,678.71. It dropped 1.0 percent for the week, marking the sixth straight weekly fall.

As US markets are closed on Monday for a holiday, traders said that foreign investors did not want to hold onto big positions before a long weekend.

The broader Topix shed 1.3 percent to 1,183.82.

The JPX-Nikkei Index 400, an index launched this year comprised of firms with high return on equity and strong corporate governance, dropped 1.3 percent to 10,711.29.


Category: FinanceAsia

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