Tokyo Stocks Fall as Selling Pressure Grows
(MENAFN) Tokyo’s stock market slipped on Tuesday as selling intensified, with investors wary of signs that valuations may be overheating.
The benchmark Nikkei 225 index dropped 168.02 points, or 0.38%, ending the day at 43,546.29.
Shares of SoftBank Group, which had surged to new post-split highs following its announcement of an investment in U.S. chipmaker Intel, later reversed sharply. The stock’s decline shaved roughly 135 points from the Nikkei, exerting significant downward pressure on the broader market.
Game-related stocks, including Nintendo—which had recently reached record peaks—also faced substantial losses.
Positive sentiment around a possible Federal Reserve interest rate cut in September, along with easing worries over corporate earnings, continued to underpin some gains.
The wider Topix index retreated 4.33 points, or 0.14%, closing at 3,116.63.
On the Tokyo Stock Exchange Prime Market, 1,055 stocks rose, 511 fell, and 54 remained flat.
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