Tokyo stocks slip after record Nikkei rally triggers profit-taking
Tokyo stocks ended lower on Friday as investors locked in profits following a sharp surge in the previous session, when the benchmark Nikkei index jumped more than 3,300 points, News.Az reports, citing Nikkei.
The 225-issue Nikkei Stock Average closed down 120.19 points, or 0.19 percent, from Thursday at 62,713.65.
The broader Topix index also finished lower, falling 11.01 points, or 0.29 percent, to 3,829.48.
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On the Prime Market’s top tier, shares in banking, securities, and marine transportation sectors were among the biggest decliners.
Market sentiment was weighed down by renewed tensions between the United States and Iran, which reportedly exchanged fire near the Strait of Hormuz.
Profit-taking also contributed to the decline after the Nikkei recorded its largest-ever single-day point gain on Thursday.
However, the overall drop remained limited, with analysts noting that strong corporate earnings during the reporting season continued to support investor confidence.
By Nijat Babayev
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