The Financial Express

Japanese stocks inch lower; financial slip

Published: December 25, 2017 10:46:50 | Updated: December 26, 2017 11:16:24

File Photo (Collected) File Photo (Collected)

Japan’s Nikkei share edged lower on Monday, weighed by losses on Wall Street, although movement was confined to a narrow range with many other major markets shut for Christmas.

The Nikkei was 0.08 per cent lower at 22,884.60, reports Reuters.

Jeans Mate soared 14.3 per cent after reporting that its December existing store sales increased 13.2 per cent year-on-year.

Nitori Holdings slipped 6.6 per cent after the company saw its operating profit for the nine months through to Nov. 20 rise a modest 0.3 per cent to 70.4 billion yen.

Nitori’s sales for the same period increased 11.5 per cent but costs of opening stores and renovations to existing ones were seen to have curbed profits.

Cryptocurrency related shares slipped following recent wild swings in bitcoin.

Internet provider GMO Internet Inc, which is engaged in the “mining” of bitcoin, fell 4.9 per cent.

Remixpoint Inc, an operator of virtual currency trading post services, dropped 3.0 per cent.

The broader Topix was 0.1 per cent lower at 1,826.93.

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