market gauge: On Thursday, the key market gauge rose 96.06 points. ; The Topix, including all first-section issues, finished down 1.42 points, or 0.08 percent, at 1,674.75, after climbing 11.74 points the previous day, according to The Japan Times. Selling outpaced buying as the dollar weakened against the yen on profit-taking, after it rose above 113 Thursday on expectations for U.S. tax reforms including a corporate tax cut, brokers said. The benchmark Nikkei 225 average lost 6.83 points, or 0.03 percent, to close at 20,356.28. Some investors moved to lock in profits by selling stocks that had been upbeat recently. Before Nikkei component reshuffles, investors tend to carry out massive trading to fill the price gaps between outgoing and incoming issues, leading to a volatile market. The market also saw Nikkei average-linked selling ahead of Recruit and Japan Post Holdings replacing Hokuetsu Kishu Paper and Meidensha as component issues of the key price index on Monday.
(news.financializer.com). As
reported in the news.
Tagged under market gauge, tax reforms topics.