Tuesday, September 24, 2013
Nikkei Ends Slightly Lower On Wall St Losses
TOKYO (NQN)--Tokyo stocks closed lower Tuesday, with the Nikkei Stock Average falling 9.81 points, or 0.07%, from Friday to end the day at 14,732.61.
The market was closed Monday due to a national holiday.
The Dow Jones industrial average fell for the third straight trading day overnight and the dollar weakened to the upper-98 yen range, fueling selling of automakers and other blue chips. With the Nikkei average rising for the third straight week through last week, investors were inclined to lock in gains amid concerns about overheated stocks.
However, the market received support from dip-buying. In addition to purchases spurred by the pause in the dollar's fall toward the close, investors also began buying shares to benefit from dividend payouts, as Wednesday is the last day shareholders will be entitled to dividend payments from companies ending their fiscal year in March and September.
The Nikkei average briefly rose 25 points from Friday's close to 14,767.
The trading value on the first section of the Tokyo Stock Exchange totaled 1.92 trillion yen on a preliminary basis, falling below 2 trillion yen for the first time in four trading days.