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Japanese stocks drop to end 5-day winning streak in aimless holiday trading

Japanese stocks drop to end 5-day winning streak in aimless holiday trading

Japanese stocks snapped a five-day winning streak Thursday, with shipping companies leading the declines amid directionless holiday trade on the last full trading day of the year.
The benchmark Nikkei 225 stock index fell 88.85 points, or 0.57 percent, to close at 15,564.69 points on the Tokyo Stock Exchange Thursday. The index had risen more than 4 percent the previous five sessions.
Decliners included Mitsui O.S.K. Lines, down 2.35 percent at 1,452 yen (US$12.71; euro8.83).
Trading volume stood at its lowest level of the year for a full session, with many major players already on holiday.
But "we could see a slight recovery tomorrow" during Friday's half-day session as some investors take long positions on hopes for gains in the new year, said Motomi Hiratsuka, head of Japan client coverage at BNP Paribas.
Japanese financial markets will close from midday Friday through Jan. 3. They will reopen Jan. 4 for a half-day session.
The broader Topix index, which includes all shares on the exchange's first section, lost 8.53 points, or 0.57 percent, to 1,499.94. Losers outnumbered gainers 1,066 to 532.
In currencies, the dollar was trading at 114.20 yen at 2:50 p.m. (0550 GMT) Thursday, down from 114.31 yen late Wednesday in New York. The euro rose to US$1.4506 from US$1.4490.


Updated : 2021-04-11 21:43 GMT+08:00