TOKYO: Tokyo stocks closed lower on Tuesday, snapping a six-day winning streak on profit-taking, after European markets fell overnight.
The benchmark Nikkei 225 index ended down 0.79 percent, or 282.61 points, at 35,619.18, while the broader Topix index slid 0.82 percent, or 20.62 points, to 2,503.98.
“The market was gradually pushed into a sell-off after rising for six days as caution over short-term overheated shares increased,” IwaiCosmo Securities said. US markets were closed for a holiday on Monday.
Investors were also watching the US Republican presidential nomination race, with former president Donald Trump achieving a landslide victory in Iowa’s caucuses.
The results will cement his status as the presumptive Republican standard-bearer to challenge President Joe Biden in November’s election.
In Tokyo trading, market heavyweight Fast Retailing, operator of Uniqlo, lost 1.19 percent to 39,000 yen.
Japan’s Nikkei marks fresh 34-year peak as shippers, banks gain
Nintendo dropped 1.98 percent to 8,037 yen and Sony Group fell 0.96 percent to 14,380 yen. SoftBank Group was down 0.73 percent to 6,386 yen.
The dollar traded at 146.17 yen against 145.77 yen in London and 145.25 yen in Tokyo on Monday.
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