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Nikkei Ends 4 Day Positive Streak

The Nikkei index ended lower Wednesday, snapping a four-session winning streak due to caution against market overheating following recent surges.

The 225-issue Nikkei Stock Average closed down 43.18 points, or 0.31 percent, from Tuesday at 14,055.56. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1.97 points, or 0.17 percent, at 1,173.81.

Decliners were led by utilities, fishery and forestry, and communications issues while gainers included tire, real estate and mining companies.

In early trading, the Nikkei briefly hit its highest level in more than a month as the U.S. dollar advanced well above the 100 yen mark, fueling expectations of robust earnings by export-oriented firms, brokers said.

via Mainichi [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza