Tokyo stocks plunge on ex-dividend selling, profit-taking

Economy

Tokyo stocks fell sharply Thursday as investors offloaded shares after securing dividend rights before the end of the current fiscal year and locked in gains from recent highs.

The 225-issue Nikkei Stock Average ended down 594.66 points, or 1.46 percent, from Wednesday at 40,168.07. The broader Topix index finished 48.47 points, or 1.73 percent, lower at 2,750.81.

On the top-tier Prime Market, decliners were led by pulp and paper, land transportation, and iron and steel shares.

The U.S. dollar was subdued in the lower 151 yen range amid wariness over currency intervention by Japanese authoriti...

Kyodo News

Kyodo News