Thursday, September 26, 2013
Nikkei Down On Dlr's Fall, Futures Selling
TOKYO (NQN)--Tokyo stocks are down Thursday morning, with the Nikkei Stock Average off about 170 points to hover around 14,400 at 10 a.m.
The benchmark index had been more than 200 points lower earlier in the session.
The dollar hit its lowest price against the yen in about a week, fueling selling of Nikkei Stock Average futures.
The previous day, shares in Nitto Denko Corp. (6988) surged and Advantest Corp. (6857) said it is likely to have a net loss for the year ending March, reversing its earlier forecast for a net profit. Declines in these two high-priced stocks are also pushing the Nikkei average lower.
Toyota Motor Corp. (7203), Mitsubishi UFJ Financial Group Inc. (8306) and Sumitomo Mitsui Financial Group Inc. (8316) are down. Tokyo Electron Ltd. (8035), which surged on Wednesday, is also coming under selling pressure. Fanuc Corp. (6954) is also lower. Konica Minolta Holdings Inc. (4902) and Central Japan Railway Co. (9022) traded higher before slipping into negative territory.