Thursday, December 24, 2009

Japanese Stocks Fall Most On profit Taking

. Thursday, December 24, 2009

By stockOzone team

Stocks in Tokyo inched down in Friday morning trading as investors sold stocks to lock in profits after recent gains.

The benchmark Nikkei 225 Stock Average lost 21.72 points, or 0.21 per cent, to trade at 10,515.20 after it had climbed nearly 4 per cent in a three-session rally.

Meanwhile, the broader Topix index was down 2.31 points, or 0.25 per cent, at 911.41.

On currency markets at 9 am (0000 GMT), the dollar traded at 91.42-49 yen, up from Thursday's 5 pm quote of 91.22-24 yen.

The euro traded at 1.4377-4382 dollars, slightly up from 1.4365-4366 dollars Thursday, and at 131.44-58 yen, up from 131.04-08 yen.

In other economic news, Japan's jobless rate climbed for the first time in four months in November to 5.2 per cent, the government said Friday.

Disclosure: Author does not own any of the stocks discussed here.

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