Xinhua
30 Nov 2020, 21:18 GMT+10
TOKYO, Nov. 30 (Xinhua) -- Tokyo stocks closed lower Monday amid concerns that the market has overheated recently.
The 225-issue Nikkei Stock Average decreased by 211.09 points, or 0.79 percent lower, from Friday to close at 26,433.62.
The Nikkei index gained 3,456.49 points or 15.04 percent in November, logging the biggest point rise since May 1990 and the third-largest monthly rise on record as investors' confidence was boosted by COVID-19 vaccine progress and perceptions of more certainty over the U.S. presidential election.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, ended 31.60 points, or 1.77 percent lower, at 1,754.92.
Mining, rubber product, and oil and coal product issues comprised those that decreased the most by the close of play.
The Tokyo stocks showed firmness in the early morning following Wall Street's gain last week.
The benchmark Nikkei index briefly increased by almost 190 points to reach its highest level in 29 years and seven months.
The brokers also said that Chinese factory activity statistics for November released later in the morning was stronger than expected, contributing to market confidence.
However, the market players pared gains as selling pressure grew in the afternoon amid concerns over the market's recent overheating.
Energy issues notably decreased following their strong rise last week, with oil explorer Inpex shedding 4.4 percent and Japan Petroleum Exploration losing 5.9 percent. Refiner Cosmo Energy Holdings also decreased 3.1 percent.
ANA Holdings declined 0.9 percent as the parent of All Nippon Airways said last week it will raise up to 332.13 billion yen (3.2 billion U.S. dollars) by issuing new shares.
On the First Section, decreasing issues outnumbered gainers 1,810 to 335, while 32 finished the day unchanged.
Trading volume on the main section surged to 2,487.79 million shares compared to Friday's 1,529.50 million shares.
Get a daily dose of Breaking Property News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.
More InformationWASHINGTON, DC, January 26 (ANI) - The U.S. Senate has confirmed Janet Yellen to be the next Secretary of the ...
Field Level Media's Golf Glance provides weekly news and storylines from each of the major North American golf tours. PGA ...
The Senate on Monday approved President Joe Biden's nomination of Janet Yellen to be the nation's 78th treasury secretary, making ...
The Johannesburg Stock Exchange index jumped 2.1% as of 10:07 in Johannesburg, setting a fresh intraday record, as Naspers [JSE:NPN] ...
Asian markets sank on Tuesday following the previous day's healthy run-up.Asian traders were in a selling mood Tuesday, with Hong ...
The Senate on Monday approved President Joe Biden's nomination of Janet Yellen to be the nation's 78th treasury secretary, making ...
The Russian vessel tapped to finish the controversial Nord Stream 2 gas pipeline has begun work in Danish waters just ...
From February 4, in-person learning for school students from 5th to 12th grade will be resumed under a strictly defined ...
Indigenous Leaders and Allies Demand Halt to Construction of U.S. Border Wall Democracy Now! ...
Mexican president celebrates Biden's decision to halt border wall construction KRIS Corpus Christi News ...
Disney's TRON Coaster Construction Is Not Moving At Full Speed Inside the Magic ...
36 Pathways Core Construction students earn OSHA credentials Oil City News ...