TOKYO: Japanese shares fell more than 1% on Thursday, down for a second consecutive session, as investors paused after recent rallies, wary of the US rate outlook, higher yields and geopolitical tensions.
The Nikkei 225 Index fell 1.42% to close at 69,042.11, while the broader Topix slid 1.51% to 4,091.46.
“Japanese shares had risen at a rapid pace through yesterday, and profit-taking has since picked up. That selling pressure appears to be continuing today,” said Hiroki Takei, strategist at Resona Holdings. Japanese AI-related shares were subdued even after Samsung Electronics, the world’s largest memory chipmaker, projected a nearly ninefold jump in third-quarter operating profit from the same period last year.
Shares of chipmaker Rohm lost 5.19%, the biggest percentage drag in nearly a month, while technology investor SoftBank Group shed 4.28% and Tokyo Electron dropped 2.48%.
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