Wednesday morning stocks lost further ground on the Tokyo Stock Exchange. At the morning close, the 225-issue Nikkei average stood down 12.72 points. It down from Tuesday at 16,111.63. The Nikkei plunged 303.86 points on Tuesday. The TOPIX index of the whole first-section issues was down 11.27 points at 1,647.76. The index finished off 25.87 points in the prior session. The market headed higher in early morning trading as overnight profits in U.S. technology shares triggered buybacks in Japanese counterparts. After the primary round of buying in tech shares ran its course. But the market slipped into the negative side, The investors resuming active profit taking mainly in domestic demand-linked shares. ‘Tokyo stocks are still overvalued,’ equity strategist at SMBC Friend Securities Co Fumiyuki Nakanishi resumed.

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