Tokyo Stock Extends Downward Slide on Tuesday
(MENAFN) Tokyo’s stock market extended its downward trend on Tuesday as investors engaged in profit-taking and portfolio rebalancing after last week’s sharp surge.
The Nikkei 225 index closed at 40,674.55, falling 323.72 points, or 0.79%, compared to the previous session.
Major players like SoftBank Group and Tokyo Electron led the decline, dragging the market down. The Nikkei’s strong rally of over 4% last week, pushing it close to its record high reached in July 2024, sparked concerns over stretched valuations, weighing on investor sentiment.
Meanwhile, the broader Topix index dropped for a third consecutive day, slipping 22.09 points, or 0.75%, to finish at 2,908.64.
Among Tokyo Prime Market stocks, losers outpaced winners, with 970 stocks declining, 585 advancing, and 70 remaining flat.
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