TOKYO: Japan’s Nikkei share average fell for a second consecutive session on Friday as investors took a breather from a rally driven by hopes for more fiscal stimulus.
The Nikkei slipped 0.32 percent to 53,936.17, while the broader Topix edged down 0.28 percent to 3,658.68. The two indexes rose nearly 4 percent this week following a report over the weekend that Prime Minister Sanae Takaichi might dissolve parliament this month and call for a general election in February. The Liberal Democratic Party’s secretary general confirmed the report on Wednesday.
For the month, the Nikkei and the Topix gained more than 7 percent so far.
“The market needed to pause after the sharp gains this week. Today’s declines are a small adjustment to reflect that sentiment… The overall view has not changed,” said Kazunori Tatebe, chief strategist at Daiwa Asset Management.
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