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Nikkei down but up for the year

30 December 2021
1770
1 min.
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Nikkei down but up for the year

Index rises on year-end

Japan's Nikkei index ended the last trading session of the year in a decline, having retreated from more than 30-year peak reached the day before due to profit taking. At the same time, the index was up for the second time in a row.

The Nikkei fell 0.45% to 27,444.17 points in the previous session, hitting its peak since 16 August 1990. The broader Topix index fell 0.8% to 1,804.68 points, retreating from the peak from October 2018 recorded the day before.

The Nikkei ended the year up 16%, up from 18.2% in 2019. Over the last quarter, it rose almost 18.4%, the most since the first quarter of 2013.

The Topix ended 2020 with a rise of almost 4.8% after rising more than 15.2% the previous year.

Japanese financial markets will be closed from Thursday and will reopen on Monday, January 4.

"Few investors would have been willing to force open positions at the end of the year, especially the day after many players made large purchases", said one market participant.

Sentiment was also pressured by the decline in Wall Street indices the day before due to doubts about additional stimulus.

US Senate Majority Leader Mitch McConnell postponed a vote to increase stimulus payments to Americans to $2,000 from $600.

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