Japan stock market week to May 26, 2008
Tokyo retreated in the week to May 26. The Nikkei 225 declined 4.1%, to close below the 14,000 mark, while the Topix index was off 4.3%. The market opened the review week lower due to profit-taking by some investors in stocks which performed well recently, such as trading houses and natural resources-related issues. Players in general refrained from taking positive action because of their caution about the resurgence of a hike in crude oil prices and uncertainties on Japanese corporate earnings prospects in the fiscal year ending March 2009. Market dynamics were weak due to a lack of buying incentives. The pharmaceutical index was down 1.9%, outperforming the market.
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