Achi news desk-
Tokyo, (UrduPoint News / Pakistan Point – 28th Mar, 2024) Tokyo stocks fell in early trade on Thursday after investors locked in dividend rights during the previous session.
The benchmark Nikkei 225 index fell 1.10 percent, or 449.41 points, to 40,313.32 in early trade, while the broader Topix index gave up 1.02 percent, or 28.56 points, to 2,770.72.
The Nikkei surged on Wednesday, the last day for investors to secure the rights to dividends for various shares before Japan’s financial year ends this week.
On Thursday the main index was expected to fall as investors adjusted their views, while a sense of optimism remained about Japanese shares.
“The point today is how far the Nikkei could recover” from these falls, said brokerage house Monex.
The Tokyo market was also under pressure after recent rallies, analysts said.
Eyes are also on the forex market after the Yen plunged on Wednesday to 151.97 to the Dollar – a 34-year low – before hovering around 151.25 yen as European markets opened.
This prompted Tokyo Currency officials to reiterate that they may take action if they see excessive currency movements.
The dollar stood at 151.35 yen in Tokyo on Thursday morning.
