The Nikkei index ended today’s trading down 1.83 percent at 39,180.3 points, after exceeding the level of 40,000 points to touch the highest level in three months in the previous session.
“A decline in… Nikkei indicator “Reverses the trajectory of the sharp gains made in the most recent bull run.”
“After all, market sentiment is not that strong due to the strength of the yen against the dollar three months ago,” he added.
The yen rose to about 149 to the dollar in Asian trading, compared to 160 yen to the dollar in mid-July when the Nikkei index recorded its highest level ever.
The major stock indices closed at Wall Street Yesterday, Tuesday, the Nasdaq index, which was dominated by technology stocks, was at the forefront of declines, declining 1 percent, amid chip stocks being under pressure.
The shares of Tokyo Electron, a manufacturer of chip manufacturing equipment, fell 9.19 percent, tracking the Philadelphia Semiconductor Index, which fell 5.3 percent at the end of trading yesterday.
SoftBank Group’s shares for investing in technology companies fell 3.97 percent, while Lasertech shares fell 13.44 percent.
The broader Topix index also fell 1.21 percent to 2,690.66 points, and Nippon Telegraph and Telephone Company (NTT) shares rose 0.82 percent, providing the largest support to the index.
The insurance sector index rose 0.35 percent, becoming the best performer among 33 sub-indices on the Tokyo Stock Exchange.
