Wednesday, September 25, 2013
Nikkei Ends Morning Lower On Weaker U.S. Stocks
TOKYO (NQN)--Tokyo stocks were trading lower Wednesday morning, with the Nikkei Stock Average sliding 57.96 points, or 0.39%, to end the early session at 14,674.65.
U.S. stocks ended lower overnight, weighed down by uncertainty over domestic financial conditions, fueling selling from the outset of trading in Tokyo.
A strategist at a domestic brokerage said short-term investors were inclined to lock in gains given that the Nikkei average rose more than 1,300 points over the three weeks through last week.
Tokyo Electron Ltd. (8035) surged following the company's announcement the previous evening that it will merge with leading semiconductor equipment maker Applied Materials Inc. of the U.S. However, the rise was not robust enough to push the overall market higher.