Japanese stocks retreat amid profit-taking

Japan’s Nikkei index fell at the close today for the second day in a row amid investors taking profits that came after a wave of recent market rises.
Fast Retailing put pressure on the index after the company that owns the Uniqlo brand announced a decline in monthly sales.
The Nikkei fell 0.25 percent to close at 33,338.70, but made up for most of its losses, which had reached 1 percent earlier in the session.
The broader Topix index ended the session at an almost stable level and fell only slightly by 0.01 percent to 2306.03 points.
Fast Retailing shares fell 2.54 percent, putting the most pressure on the Nikkei after the company announced a 3.4 percent decline in June sales.
Shares of contact lens company Hoya fell 2.86 percent, becoming the biggest losers on the Nikkei.
Shares of chip maker Tokyo Electron fell 0.35 percent and medical equipment manufacturer Terumo 1.61 percent.
But Daiichi Sankyo climbed 6.82 percent to become the biggest gainer on the Nikkei after falling 15 percent in the previous session.
The pharmaceutical companies sector rose 1.78 percent with Sumitomo Pharma recording a jump of 3.5 percent.
The share of Kawasaki Kisen Kaisha shipping company rose 5.58 percent, raising the entire shipping sector to be the best performing sector on the Tokyo Stock Exchange out of 33 sub-sectors.

Fast Retailing’s stock gained 2%