TOKYO: Japan’s Nikkei share average fell on Monday as valuation concerns in the technology sector lingered ahead of key results this week.
The benchmark Nikkei 225 slid 0.62 percent to close at 64,916.70, trimming an earlier decline of more than 2 percent. The broader Topix edged 0.04 percent higher to 4,067.48.
The decline in Japanese equities followed a weak session on Wall Street on Friday, weighed down by losses in AI- and chip-related stocks. A surge in oil prices last week added to inflationary concerns and expectations of further monetary policy tightening by central banks.
Bank of Japan Governor Kazuo Ueda said on Monday that underlying inflation is “quite close” to the central bank’s 2 percent target, heightening the importance of anchoring inflation around that level.
There were 111 advancers on the Nikkei 225 against 108 decliners and 6 unchanged stocks.