Thursday, July 29, 2010

Nikkei slips 1 pct after 2-week closing high

TOKYO: Japan's Nikkei fell 1 percent on Thursday, July 29 with investors taking profits after the index hit a two-week closing high the previous day, after weak orders for U.S. durable goods in June and the Federal Reserve's downbeat take on the economy dampened the outlook.

The benchmark Nikkei shed 99.76 points to 9,653.51. It climbed 2.7 percent on Wednesday to 9,753.27, its highest close since July 14.

The broader Topix lost 0.7 percent to 859.39

In Seoul, shares opened lower on Thursday, weighed by exporters such as LG Display'' after weak economic data from the United States, South Korea's No.3 export market.

Shares in LG Electronics fell 1.5 percent following weak second quarter earnings and bearish third quarter outlook comments on Wednesday.

The Korea Composite Stock Price Index (KOSPI) was down 0.16 percent at 1,770.66 points as of 0002 GMT. - Reuters


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