City
Epaper

Tokyo stocks end lower amid profit taking, automaker scandal

By IANS | Updated: June 4, 2024 14:50 IST

Tokyo, June 4 Tokyo stocks ended the winning streak by closing lower on Tuesday, as investors took action ...

Open in App

Tokyo, June 4 Tokyo stocks ended the winning streak by closing lower on Tuesday, as investors took action to lock in gains while the testing scandal grew among major Japanese automakers.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 85.57 points, or 0.22 per cent, from Monday to close the day at 38,837.46, Xinhua news agency reported.

The broader Topix index, meanwhile, finished 10.59 points, or 0.38 per cent, lower at 2,787.48.

Market watchers here noted a market trend of selling on recovery and profit taking as the Nikkei approached the 39,000 psychological milestone on the day, adding that the yen's appreciation also weighed on the market.

Stock prices of major Japanese automakers including Toyota and Honda saw significant losses, after five major vehicle makers admitted falsifying certification tests for their products.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

BusinessPM Modi highlights 11 years of PMMY, calls it a boost to self-employment among youth

NationalPM Modi highlights 11 years of PMMY, calls it a boost to self-employment among youth

InternationalAustralia PM Albanese welcomes US pause on Iran strikes, calls for de-escalation

International"Iranian regime cannot be trusted in any shape or form," says Former US Treasury Counterterrorism analyst

TechnologyS. Korea posts largest-ever current account surplus in Feb on chip upcycle

Business Realted Stories

BusinessS. Korea posts largest-ever current account surplus in Feb on chip upcycle

BusinessSeoul shares sharply up on US-Iran ceasefire

BusinessRBI to unveil first Monetary Policy of FY27 today; Experts predict repo rate pause

BusinessIndian Shares Set to Open Higher on US–Iran Ceasefire Deal; All Eyes on RBI Repo Rate Decision

BusinessAnthropic announces 'Project Glasswing' in alliance with tech giants to strengthen global cybersecurity