TOKYO: Japan’s Nikkei share average dropped on Friday, trimming a weekly advance that brought the index to the brink of a record, as traders locked in gains spurred by a newly inked trade deal with the United States.
The Nikkei 225 Index slid 0.9% to close at 41,456.23, trimming its five-day advance to 4.1%. The broader Topix, which hit an all-time high on Thursday, also dropped 0.9%. The trade deal, announced late on Tuesday by US President Donald Trump, reduced a reciprocal tariff on Japanese goods and autos-specific levies to 15% from the 25% Washington had threatened previously.
Shares of industrial robot maker Yaskawa Electric dropped 6%, paring a steep three-day advance. Mitsubishi Motors plunged 7.9% after the automaker reported an 84% drop in first-quarter operating profit.
The Nikkei’s 14-day relative strength index (RSI), a technical measure for an investment momentum, reached 77.8 on Thursday, the highest since the stock gauge hit its all-time high of 41,889.16 in July 2024.
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