TOKYO (XFN-ASIA) - Share prices closed lower, tracing a sluggish performance on Wall St Friday, with investors cashing in gains after the market had posted solid gains last Thursday and Friday, dealers said.
After plunging to a seven-month low last Tuesday, the benchmark Nikkei rebounded 660 points, or 4.6 pct, in the following three days.
Dealers said with concerns about interest rates and global growth continuing to hang over sentiment, investors seemed to want to pocket quick gains, or exit the market to cut their recent losses.
The blue-chip Nikkei 225 Stock Average briefly moved into positive territory in the afternoon session but by the close it had succumbed to profit taking, finishing down 18.99 points or 0.1 pct at 14,860.35, off a low of 14,772.14.
The broader TOPIX index of all first-section issues fell 7.05 points or 0.5 pct to 1,527.66, off a low of 1,520.40.
But gainers beat losers 856 to 752, with 87 issues unchanged.
Volume fell to 1.44 bln shares from 2.12 bln on Friday.
(1 usd = 115.61 yen)
Kiyori.Ueno@xfn.com
ku/mb
© 2006 AFX News
