Thursday, October 10, 2013
Nikkei Trims Gains On Profit-Taking
TOKYO (NQN)--Tokyo stocks were struggling to rise at the opening of the afternoon session Thursday, with the Nikkei Stock Average trimming its gains from 131 points at about 11 a.m. to slightly less than 100 points in the afternoon.
If the benchmark index closes Thursday's trading higher, it will be the third straight day of increase for the index. Because of that, investors are selling stocks to lock in recent gains.
Also weighing on Tokyo stocks is a significant fall in Hong Kong's Hang Seng Index.
However, the dollar's slight rise to the upper-97 yen level is pushing up the Nikkei average.