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Japan: Nikkei slips at the end of trading

Friday, May 26, 2017 - 14:28

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[TOKYO] Japan's Nikkei share average extended losses as the yen's gains against the dollar accelerated on Friday, though the benchmark index still managed to cap off a winning week.

The Nikkei ended down 0.6 per cent at 19,686.84, and yet stayed 0.5 per cent ahead for the week.

The dollar lost some ground to the yen, slipping 0.4 per cent to 111.42 yen.

Oil and mining shares fell, after oil prices skidded 5 per cent on Thursday and continued to drop on Friday, after a meeting of OPEC countries disappointed some investors who had hoped for larger production cuts.

The oil and coal subindex on the Tokyo Stock Exchange dipped 0.4 percent, while the mining subindex tumbled 2 per cent. The broader Topix fell 0.6 per cent to 1,569.42, while the JPX-Nikkei Index 400 also shed 0.6 per cent to 13,997.82.

REUTERS

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