Nikkei Down on Final Day of 2024 But Logs Best Year-End Close

Tokyo, Dec. 30 (Jiji Press)--Tokyo stocks lost ground on Monday, the final market day of 2024, but the benchmark Nikkei 225 average finished at its best year-end level ever.

The Nikkei gave up 386.62 points, or 0.96 pct, from Friday to close at 39,894.54, topping the previous year-end record closing high of 38,915.87, marked on Dec. 29, 1989, when Japan was in the speculation-driven bubble economy. Compared with the final trading day of 2023, the index gained 6,430.37 points, or 19.22 pct.

The broader TOPIX index shed 16.76 points, or 0.60 pct, from Friday to end 2024 at 2,784.92. It gained 418.53 points, or 17.69 pct, from the end of 2023.

The Nikkei dropped for the first time in four market days. After the Nikkei advanced sharply on Thursday and Friday to notch a gain of over 1,100 points in total, "it was only natural for the index to turn lower (today)," an official at a midsize securities firm said.

Investors moved to adjust their positions ahead of the six-day year-end and New Year holiday period until Sunday, market sources said.

[Copyright The Jiji Press, Ltd.]