Premium
This is an archive article published on September 7, 2010

Nikkei sheds 0.8 per cent

Japan's Nikkei average fell 0.8 per cent on Tuesday after four straight days of large gains.

Japan8217;s Nikkei average fell 0.8 per cent on Tuesday,dented by profit-taking after four straight days of large gains and as the yen8217;s strength shows little sign of abating.

But for a second straight day the benchmark managed to hold above its 25-day moving average,which had served as resistance for most of last month,a sign it could resume climbing once profit-taking is absorbed.

The Nikkei fell 75.32 points to close at 9,226.00. Its 25-day moving average,currently at around 9,210,is considered a proxy for a one-month moving average and is closely watched in Japan.

The broader Topix declined 0.5 per cent to 834.92.

 

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement