Tokyo stocks retreat over profit-taking

TOKYO, Sept. 25 (Xinhua) — Tokyo stocks ended lower on Wednesday, retreating from a four-day rally as investors sought to lock in profits despite positive market sentiment from the anticipated interest rate cuts in the United States.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, went down 70.33 points, or 0.19 percent, from the previous trading day to close at 37,870.26.
As the market approached the psychological 38,000 yen threshold, significant selling pressure has outweighed the favorable market sentiment that spurred buying in semiconductor and electronic component.
China-linked stocks outperformed the broader market following a raft of stimulus policies China introduced on Tuesday.
China’s central bank, top securities regulator and financial regulator on Tuesday announced a raft of monetary stimulus, property market support and capital market strengthening measures to boost the country’s high-quality economic development.
The broader TOPIX index also declined, falling 6.23 points, or 0.23 percent, to close at 2,650.50.
On the top-tier Prime Market, advancing issues outnumbered decliners by 805 to 772, with 68 issues remaining unchanged. ■