Japan's Nikkei fell slightly today (July 17th), with early gains wiped out after a strengthening yen led investors to sell.
The index ended 0.1 per cent lower at 15,370.26, after hitting 15,465.74, the highest level since July 7th.
The Nikkei 225 average closed down 9.04 points at 15,370.26. The broader Topix was flat at 1,273.38, with the JPX-Nikkei Index 400 also flat at 11,591.62.
A wide range of issues on the Tokyo bourse attracted purchases, but after the initial buying ran its course, stock prices edged lower as investors began to sell due to lack of fresh incentives to spur buying, brokers quoted by the Japan Times said.
Selling was also boosted by the yen’s strengthening against other major currencies.
“Selling on a rally weighed down stock prices when the Nikkei reached 15,400. Investors bought stocks at lower price levels but no one purchased at higher levels,” said Hideyuki Ishiguro, senior strategist at Okasan Securities Co.’s investment strategy department, quoted by the news source.
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