TOKYO: Tokyo stocks closed lower on Thursday as investors locked in profits after four days of rallies partly fuelled by positive earnings reports.
The benchmark Nikkei 225 index dropped 1.06 percent, or 292.29 points, to end at 27,241.31 while the broader Topix index closed down 0.86 percent, or 16.64 points, at 1,919.92.
The dollar fetched 114.50 yen, against 114.42 yen on Wednesday in New York.
Market players "locked in gains after a four-day winning streak even though some brisk Japanese corporate earnings reports have been announced" in the past few days, Ichiro Asai, senior strategist of Daiwa Securities, said in a commentary.
Tokyo shares end higher on corporate earnings
Investors are increasingly cautious ahead of key US payrolls data later this week, which "may show a month-on-month decline" in the headline figure of payrolls, Resona Bank said in a note.
Also weighing on market sentiment was a sharp sell-off of shares in Facebook operator Meta Platforms in after-hours trading on Wall Street.
Meta issued weaker-than-expected corporate results, a negative factor for investor sentiment, analysts said. A wide range of shares suffered falls in Tokyo. Nintendo, which will release its earnings later on Thursday, fell 2.75 percent to 56,150 yen.
Sony Group, which upgraded its annual forecasts on Wednesday, dropped 6.08 percent to 12,585 yen.
Market heavyweight Fast Retailing, which operates the Uniqlo fast-fashion brand, dropped 2.39 percent to 62,850 yen.
Comments
Comments are closed for this article.