Japan's Nikkei Stock Average Falls as Investors Take Profits Ahead of Corporate Earnings
As of 0217 GMT, the Nikkei was down 0.8% at 41,115.60, after rising as much as 0.2% earlier in the session.
The broader Topix .TOPX slipped 0.45% at 2,938.55.
'Investors sold stocks to book profits from a recent rally; that's a short answer to today's declines,' said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
'But they sold stocks because the shares jumped last week, and were concerned that corporate earnings may not justify the current level of the equities.'
The Nikkei climbed to a one-year high last week after Japan and the United States struck a deal to lower the hefty tariffs U.S. President Donald Trump threatened to impose on goods from Japan.
Chip-related shares led the declines, with Advantest 6857.T slipping 7.66% to become the biggest drag for the Nikkei.
Screen Holdings7735.T fell 7.24% after the chip-making equipment maker reported a 12.2% decline in its latest quarterly operating profit.
The banking sector .IBNKS.T fell 1.78% to become the worst performer among the Tokyo Stock Exchange's 33 industry sub-indexes.
Bucking the trend, Fanuc jumped 5.6% to become the top percentage gainer in the Nikkei, after the robot maker's latest quarterly operating profit jumped nearly 30%. The company also said that its forecast factored in the 15% U.S. tariff set to take effect on August 1.
Of the more than 1,600 stocks trading on the TSE's prime section, 46% rose and 49% fell, with 4% trading flat.
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The Mainichi
an hour ago
- The Mainichi
Tokyo stocks fall as chip shares sold, gains locked in
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Japan Today
an hour ago
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Asahi Shimbun
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