Japanese shares fall as investors book profits from rally
The Nikkei fell 0.86% to 70,074.13 by the midday break, exceeding the 70,000 mark for the first time in three months and rising nearly 5% this month. The broader Topix slipped 0.59% to 4,158.89.
By Junko Fujita TOKYO, Oct 7 (Reuters) — Japanese shares fell on Wednesday, led by declines in AI-related stocks, as investors tried to book profits from the latest fast-pitched rally. 13 by the midday break. The index exceeded the 70,000 mark this week for the first time in three months and has risen nearly 5% this month. 89.
"At the beginning of Japan's fiscal half, institutional investors tend to sell stocks to book profits," said Taka Ikeda, senior portfolio manager at GSCI Asset Management. "The move is noticeable in the current session after sharp gains in the market," he said. 7% after hitting a record high on Monday. 81%.
06%. Gains in US shares were not strong enough to boost Japanese shares, Ikeda said. 15% lower in Asia trade, while S&P futures traded flat, weighing on Japanese shares. 38%.
2%. 31% after a report said Japan's Fair Trade Commission conducted a raid on four major beer makers on suspicion of violating anti-monopoly law. 54%. Of more than 1,500 stocks trading on the Tokyo Stock Exchange's prime market, 67% fell, 29% rose and 3% traded flat.
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