Arab Canada News
News
By Mohamed nasar
Published: January 16, 2024
Japanese stock prices fell at the close of trading on Tuesday, ending the broader Topix index's eight consecutive sessions of gains, amid indications of excessive buying in the market following the recent price surge.
Bloomberg News Agency reported that the broader Topix index declined by 0.8% to 2,503.98 points, while the Nikkei benchmark index also fell by 0.8% to 35,619.18 points.
Hitachi Industrial Company contributed the most to the Topix decline after its shares dropped by 2.5%. At the same time, 1,731 stocks out of 2,152 listed on the index fell, while 353 shares rose and 68 remained unchanged.
During the first two weeks of the new year, Japanese stock prices rose strongly, with the total increase of the Nikkei and Topix indices reaching 7% since the beginning of the year. The Japanese market reached its highest level in 34 years yesterday.
Yesterday, the Tokyo Stock Exchange issued a list of companies planning to enhance their capital efficiency, with the number of these companies increasing, which is considered a positive indicator of the growing desire of Japanese companies to reform their conditions.
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