© Archyde.com. Two men walk past an electronic board showing the movement of stocks on Japan’s Nikkei index and on indices in other countries outside a brokerage firm in Tokyo on January 16.
(To add a word that was inadvertently omitted in the last paragraph)
TOKYO (Archyde.com) – Japan’s Nikkei index fell on Wednesday amid a sell-off in shares of major technology companies such as Nintendo and SoftBank Group following disappointing financial results, dashing any hopes of capitalizing on Tuesday’s gains on Wall Street.
Investment group SoftBank fell 5.1% following posting a quarterly loss, while video game maker Nintendo fell 7.5% following cutting profit forecasts.
Shares in electronics maker Sharp fell 12.6 percent, becoming the biggest loser by a wide margin, following failing to record expected profits.
The Nikkei index fell 0.3 percent to close at 27,606.46 points, following starting the day with slight gains on the back of strong gains for all three major US stock indices.
Meanwhile, the broader Topix index ended the session at 1983.97 points, having risen to 1991.49 points early for the first time since December 1, before slipping into the red zone.
The number of gainers was almost equal with the losers on the Nikkei index, as 106 stocks rose out of a total of 225 stocks, and 114 stocks fell, while five closed unchanged.
(Prepared by Amira Zahran for the Arabic Bulletin – Edited by Duaa Muhammad)
