TOKYO: Stocks fell today as investors cash in profits following three straight days of gains. The benchmark Nikkei 225 index lost 0.21 percent, or 47.84 points, to close at 22,818.02 while the broader Topix index edged down 0.04 percent, or 0.77 points, to 1,805.15.
“Profit-taking can easily emerge following days of sizeable gains,” said Hikaru Sato, senior technical analyst at Daiwa Securities. “Buying sentiment was also capped by a wait-and-see mood ahead of (economic growth) figures” Wednesday, Sato told AFP.
Some analysts have warned the world’s number three economy may have shrunk for the first time in nine quarters in January-March. Tokyo shares opened higher with sentiment supported by gains on Wall Street following signs of easing trade tensions between China and the United States.
A Sunday tweet from Donald Trump that US and Chinese officials were working to get Chinese telecom equipment maker ZTE “back into business, fast”, helped soothe some investors’ nerves.
Investors will be keeping a close eye on US-China trade discussions, with President Xi Jinping’s top economics official, Vice Premier Liu He, visiting Washington.
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