Tokyo’s benchmark stock index set an all-time closing high on Tuesday for the third straight trading day. The Nikkei 225 was pushed up by investor expectations for the new leader of Japan’s main ruling party to ramp up fiscal spending. But it later gave up almost all its gains due to profit-taking.
The Nikkei index ended at 47,950, up just 0.01 percent.
It rose sharply soon after the opening, and briefly climbed as much as 1.2 percent to a fresh intraday high above 48,500.
A weaker yen also prompted buying of auto and other export-related shares. But the index then see-sawed throughout the session, closing the day just in positive territory.
AloJapan.com