Tokyo stocks retreat as investors lock in gains

Tokyo stocks closed lower on Friday as investors moved to secure profits following strong gains recorded after Japan’s general election last weekend.

The benchmark 225-issue Nikkei Stock Average fell 697.87 points, or 1.21 percent, from Thursday to finish at 56,941.97, News.Az reports, citing foreign media.

The broader Topix index also declined, dropping 63.31 points, or 1.63 percent, to close at 3,818.85.

The pullback came after the Nikkei reached intraday record highs for three straight sessions through Thursday, buoyed by the ruling coalition’s victory and lower house majority in Sunday’s election.

Market participants were likewise cautious ahead of the release of U.S. inflation data later on Friday, analysts noted.

News.Az 

By Nijat Babayev