Friday, October 18, 2013
Nikkei Closes Tad Lower On Lack Of Incentives, Profit-Taking
TOKYO (NQN)--Tokyo stocks fell back slightly on Friday, with the Nikkei Stock Average sliding 24 points, or 0.17%, to end the day at 14,561.
Though the U.S. Congress reached an agreement to effectively raise the country's debt ceiling, resolving the U.S. fiscal problems for the time being, a lack of fresh incentives held Friday's trade directionless, with the benchmark index hovering around Thursday's close. Investors were also selling stocks to lock in recent gains following a nearly 700-point jump in the index over the seven days through Thursday.