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Japan’s Nikkei Ends Lower Over Business Outlook Concerns

Japan’s benchmark Nikkei stock index closed lower on Friday as disappointing earnings results from some major Japanese companies weighed on the market and investors took a wait-and-see attitude.

The 225-issue Nikkei Stock Average lost 78.35 points, or 0.24 percent, from Thursday to close the day at 32,568.11.

Meanwhile, the broader Topix index finished 1.60 points, or 0.07 percent, higher at 2,336.72.

On the Tokyo market, individual stocks were actively traded in response to earnings results. SoftBank Group (SBG) plunged after it announced a substantial net loss for the first fiscal half on Thursday. SBG closed 8.16 percent lower from the previous day, pushing the Nikkei Stock Average lower.

Meanwhile, Honda and Sony Group, whose earnings results did not meet market expectations, also saw losses on Friday.

On the top-tier Prime Market, gainers were marine transportation and oil and coal product issues, while precision instrument and rubber product issues led the declines.

Issues that rose outpaced those that declined by 988 to 630, while 41 ended the day unchanged. 

Source : XinHua