Japan stocks fell at the end of Thursday’s session, ending an eight-session rally, as it reversed course after reaching a five-week peak earlier in the session with the increase in US Treasury yields and the slowdown in the Chinese economy, which dispelled the momentum of the market’s rally.
The Nikkei fell 0.75 percent to close at 32,991.08 points, after rising to 33,322.45 points in morning transactions. The broader Topix index recorded the highest level in 33 years at 2397.33 points in the morning, but it ended the session down 0.4 percent at 2383.38 points.
Advantest, which makes computer chip testing equipment, was among the biggest losers, down 6.6 percent.
NTN Corp shares also fell 5.4 percent.
And contributed to the decline of the yen, which reached its lowest level in ten months against the dollar at 147.87 yen in morning transactions, to support the shares of export companies because it helps them to compete in the world.
Shipbuilding firm Mitsui E&S rose 4.2 percent.
Mitsubishi Heavy Industries rose to the highest level in 26 and a half years, after the successful launch of one of its missiles.
Toho Food Industries also jumped 22 percent after the company updated its earnings forecast.
2023-09-07 07:48:29
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