Tokyo stocks fall as investors lock in gains
Tokyo stocks closed lower on Friday as investors sought to lock in gains from earlier in the week.
The 225-issue Nikkei Stock Average dropped 174.33 points, or 0.32 percent, to finish at 53,936.17, News.Az reports, citing foreign media.
Meanwhile, the broader Topix index fell 10.30 points, or 0.28 percent, ending the day at 3,658.68.
The sectors leading the declines were marine transportation, mining, and pharmaceuticals.
The sell-off followed recent surges in the market, which had been largely driven by speculation that Prime Minister Sanae Takaichi might dissolve the House of Representatives in late January for a snap election.
In currency markets, the U.S. dollar briefly slipped to around 158 yen in Tokyo as the yen strengthened. This movement came amid investor caution over possible yen-buying intervention after Japan’s finance minister indicated the government is ready to take “decisive action” to curb the currency’s depreciation.
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