T + T – Normal size
Japan’s Nikkei closed lower in choppy trade on Wednesday, despite support from technology and China-linked stocks after Beijing announced stimulus packages, amid profit-taking..
The index ended trading down 0.19 percent at 37,870.26 points, ending a four-session winning streak, while the broader Topix index fell 0.23 percent to 2,650.5 points..
The S&P 500 and Dow Jones closed at record highs on Tuesday, while the tech-heavy Nasdaq closed higher, with the Philadelphia Semiconductor Subindex up more than 1 percent, boosting Japanese chip-related stocks on Wednesday..
Advantest, which counts US company Nvidia among its clients, jumped 3.8 percent, providing the biggest boost to the Nikkei..
Fluctuations in the yen and dollar exchange rates were also limited on Wednesday, giving the exchange rate-sensitive market a chance to catch its breath..
The market appeared poised for profit-taking after the Nikkei index rose for a fourth straight session to a three-week closing high in the previous session, supported by the Bank of Japan’s dovish tone..
The machinery sector rose 1.6 percent, the best performer among the Tokyo Stock Exchange’s 33 sub-indexes, with Daikin Industries rising 1.6 percent..
Other China-linked stocks also saw gains, including cosmetics company Shiseido, which rose 3.1 percent, and Fanuc Corp, which rose 4.5 percent..
Pharmaceutical company Kyowa Kirin was the biggest percentage loser, down 13.1 percent, followed by Resona Holdings, down 5.1 percent, and Tokio Marine Insurance Holdings, down 4 percent..
Among other stocks, Toyota Motor rose 1 percent after the company bought back some of its shares during morning trading..
