Japanese shares slip from 1-1/2-year highs

Dhaka,  Sun,  25 June 2017
Published : 12 May 2017, 11:00:21
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Japanese shares slip from 1-1/2-year highs

Japanese shares slip from 1-1/2-year highs
Japanese shares slipped from near 1-1/2-year highs on Friday as the market took a breather from its rally since mid-April, while trading was also influenced by a mixed bag of earnings.

The Nikkei share average ticked down 0.7 per cent to 19,823.28 as some investors booked profits. 

The index has gained more than 3.0 per cent so far this month and in excess of 9.0 per cent from its April 17 low of 18,225.

But some market players expect the Nikkei to eventually clear the 20,000 mark, given a generally upbeat outlook for the global economy.

The broader Topix dropped 0.7 per cent to 1,575.53.

On the week, both the Nikkei and the Topix look set to post their fourth straight week of gains, helped also by easing worries over European politics and tensions in the Korean peninsula.

Rakuten jumped more than 10 per cent after the internet firm posted strong earning growth in the January-March quarter on Thursday after market close.

Retailers have gained 7.0 per cent so far this quarter, compared to 4.2 per cent gains in the Topix in the same period.

Bucking the trend, Nissan rose 3.6 per cent on its dividend hike plan although it forecast an unexpected fall in profits and its guidance were lower than analyst expectations, reports Reuters. 
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