Japan’s Nikkei index gave up early gains at the start of the session today to close on a decline and record its first weekly loss after 10 weeks of highs as investors turned a profit ahead of an expected sell-off by the end of the month to rebalance the portfolio.
Nikkei fell 1.45% to 32,781.54 points after rising to 0.8% earlier in the session. The index fell 2.7% for the week, the first weekly decline in 11 weeks.
The broader Topix index fell 1.38% to 2,264.73 points at close.
Fast Retelling, the owner of the Uniclaw brand, fell 2.38% and posed the greatest pressure on Nikkei. SoftBank Group to invest in tech start-ups fell 2.39% and Shin-Itsu Chemical to make silicon chips fell 1.62%.
The trading sector lost 3.38%, marking the worst performance among Tokyo Stock Exchange’s 33 subsectors.
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