Tokyo stocks snapped their five-session winning streak Thursday, as investors moved to lock in gains amid a dearth of major reasons to buy. The 225-issue N
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JIJI May 25, 2021
Tokyo stocks extended its winning streak to a fourth trading day on Tuesday on the strength of semiconductor-related issues.
The 225- issue Nikkei average of the Tokyo Stock Exchange gained 189.37 points, or 0.67%, to finish at 28,553.98, after climbing 46.78 points on Monday.
The Topix index of all TSE first section issues rose 6.48 points, or 0.34%, to end at 1,919.52, following an 8.35-point advance the previous day.
The Tokyo market got off to a strong start after all three key U.S. market gauges closed higher on Monday following a slide of U.S. long-term interest rates.
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Tokyo stocks turned down Monday, pressured by profit-taking and weaker U.S. index futures.
The 225-issue Nikkei average of the Tokyo Stock Exchange shed 259.64 points, or 0.92%, to finish at 27,824.83, after rallying 636.46 points Friday.
The Topix index of all TSE first section issues ended 4.56 points, or 0.24%, lower at 1,878.86, following a 34.38-point rise the previous market day.
The market opened higher, in the wake of all three major U.S. price indexes including the Dow Jones Industrial Average extending gains Friday. But it soon met with selling to lock in profits.
A downturn in Dow futures in off-hours trading also dampened sentiment.
Tokyo stocks advanced further on Monday, reflecting a climb on Wall Street late last week.
The 225-issue Nikkei average rose 160.52 points, or 0.55%, to end at 29,518.34, extending its winning streak to a third straight market day. The key market gauge inched up 26.45 points Friday.
The Topix index of all issues on the first section of the Tokyo Stock Exchange ended up 19.22 points, or 0.99%, at 1,952.27, following a 5.65-point rise the previous trading day.
Tokyo stocks got off to a firm start, aided by rises in all three major U.S. stock indicators Friday of which the Dow Jones industrial average and the S&P 500 index rewrote their record highs. The U.S. indexes’ strong performances came as growth stocks, in particular, attracted buying, after the Labor Department’s announcement of far weaker-than-expected growth in April’s U.S. nonfarm payrolls eased concerns over a rise of long-term interest rates.