Friday, October 18, 2013
Nikkei Opens Nearly Flat On Profit-Taking
TOKYO (NQN)--Tokyo stocks opened nearly unchanged Friday, with the Nikkei Stock Average climbing 3 points to begin the day in the upper-14,500 range.
Although the U.S. Congress reached an agreement about effectively raising the country's debt ceiling Thursday, Japan time, the Dow Jones industrial average closed slightly lower overnight as it was seen that all positive factors had been exhausted. The dollar has also stopped rising for the time being, trading around the 98 yen level.
The upward momentum of Tokyo stocks appears muted because investors are locking in recent gains following a seven-day rise in the benchmark Nikkei average through Thursday.