Japan’s Nikkei index closed lower on Wednesday, giving up the gains it achieved earlier in the session.
The Nikkei Index ended trading down 0.33 percent, recording 32,166.48 points, after beginning its trading with an increase of 0.75 percent.
The wave of profit-taking selling came after the index rose by more than six percent in four consecutive sessions until Monday.
The oil refineries sector lost 6.11 percent, becoming the worst performing among the Tokyo Stock Exchange’s 33 sub-sectors.
Ineos Holdings shares fell by 6.85 percent.
The energy exploration companies sector fell 5.29 percent.
The banking index, which is also a measure of the performance of value stocks, lost 4.75 percent.
The broader Topix index fell 1.16 percent to 2,305.95 points, with Mitsubishi UFJ Financial Group shares losing 4.17 percent.
But the shares of “Fast Retailing”, which owns the “Uniqlo” brand, rose by 1.22 percent, which constituted the largest support for the Nikkei index, and the shares of “Advantest Corp”, which makes chip testing equipment, rose 1.93 percent.
Nintendo shares jumped 6.09 percent after the electronic gaming company raised its operating profit expectations by 11 percent for the fiscal year that will end in March.
Mazda Motor shares rose 10.39 percent after the company raised its annual operating profit forecast thanks to the weak yen.
2023-11-08 08:26:20
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