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Nikkei falls on weaker Wall St, strong yen, bargain hunting curbs losses
November 20, 2017 / 2:02 AM / in 23 days

Nikkei falls on weaker Wall St, strong yen, bargain hunting curbs losses

TOKYO, Nov 20 (Reuters) - Japan’s Nikkei share average fell on Monday amid losses on Wall Street and a stronger yen, although bargain hunting limited the losses.

The Nikkei was down 0.4 percent at 22,303.98 points by late morning, following a brief pop into positive territory in early trade.

For now, the index appears to have found support above the 22,000 mark after rallying on Thursday, when it ended a six-day losing streak.

Toyota Motor Corp rose 0.6 percent and Suzuki Motor Corp gained 0.8 percent after the automakers said they are forming a tie-up to sell electric vehicles in India from around 2020.

Shares of Toshiba Corp tumble 4.1 percent after the troubled conglomerate said it would raise 600 billion yen ($5.35 billion) through the sale of new shares.

The move allows Toshiba to stay publicly traded but also led to dilution concerns.

Of Tokyo’s 33 subindexes, 22 were in the red, with insurance and securities sagging following losses by financials on Wall Street. The gainers were led by non-ferrous metals and mining.

The broader Topix was down 0.3 percent at 1,759.44. ($1 = 112.1000 yen) (Reporting by Shinichi Saoshiro; Editing by Kim Coghill)

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