Japan Index Drops Amid Holiday Constraints
The Topix fell 0.5% to 2,714.12 as of 9:28 a.m. in Tokyo.
The Nikkei was little changed at 39,033.72.
Japan’s Topix fell as automakers and banks weighed on the benchmark index amid holiday constraints.
Toyota Motor contributed the most to the Topix decline, dropping 1.4%. Of the 2,125 stocks in the index, 689 rose and 1,247 fell, while 189 were unchanged.
“There are almost no market players, so it’s unlikely the market will show any direction,” said Mitsushige Akino, president of Ichiyoshi Asset Management. “There’s a reversal in the market, and industrial types that have performed well so far are being sold off.”
Investors will be watching a speech by the Bank of Japan governor later in the day for clues on the central bank’s next interest rate hike.
Source: Bloomberg
