Wednesday, March 13, 2013
Nikkei Closes Lower On Rise Of Yen, Profit-Taking
TOKYO (NQN)--Tokyo stocks continued to fall Wednesday, with the Nikkei Stock Average sliding 75.15 points, or 0.61%, to end the day at 12,239.66.
Investors dumped shares of exporters to lock in gains, in line with the dollar's decline against the yen. Investor sentiment worsened in response to weakness on Wall Street overnight, weighing on the Tokyo market.
Investors sold rising stocks in favor of undervalued issues, pushing the Nikkei average into positive territory.
The trading value on the first section of the Tokyo Stock Exchange reached about 2.21 trillion yen on a preliminary basis.