Nikkei slips on stronger yen, though poised for weekly gains

jueves 21 de julio de 2016 23:16 GYT
 

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TOKYO, July 22 (Reuters) - Japan's Nikkei share average remained on track for a weekly rise but slipped on Friday, as investors took profit after recent gains and the yen strengthened on waning expectations of radical monetary policy easing from the Bank of Japan.

The Nikkei stock index was down 0.9 percent at 16,660.01, pulling away from the previous session's seven-week highs intraday but still poised to gain about 1 percent for the week.

The broader Topix was down 0.9 percent at 1,328.47, while the JPX-Nikkei Index 400 also fell 0.9 percent to 11,923.41.

In the previous week, the Nikkei had soared 9.2 percent to log its biggest weekly gain since December 2009, helped by fresh record highs on Wall Street as well as hopes that the Bank of Japan might be gearing up to take drastic easing action at its July 28-29 policy meeting.

But Bank of Japan Governor Haruhiko Kuroda's remarks in a BBC Radio 4 interview quashed expectations that Japan might be preparing to take radical "helicopter money" economic stimulus steps, under which the central bank would finance government budgets to fight deflation.

Kuroda's comments sent the yen to six-week lows against major counterparts, and gave investors a reason to sell shares.

"After the market's recent strong gains, there seems to be some profit-taking," said Yasuo Sakuma, portfolio manager at Bayview Asset Management.   Continuación...