Japan’sNikkei share averageretreated on Friday from a record high set in the last session, asSoftBank Groupdeclined and renewed U.S.-Iran hostilities weighed on investor sentiment.
The Nikkei edged down 0.19% to 62,713.65. It jumped 5.6% on Thursday to close at a record high after crossing the psychological level of 63,000 for the first time.
The index rose 5.4% in the holiday-shortened week.
The broader Topix slipped 0.29% on Friday to 3,829.48. It rose 2.7% for the week.
“Compared with the previous session’s sharp gains, the decline in today’s market is marginal,” said Hitoshi Asaoka, chief strategist at Asset Management One.
Also weighing on the market was a rise in crude oil prices after the United States and Iran exchanged fire and put a month-long Middle East ceasefire in doubt.
Technology investor SoftBank Group fell 4.56% to drag the Nikkei lower the most after the U.S.-listed shares of Arm Holdings tumbled overnight on smartphone market weakness and AI chip supply concerns.
Toyota Motor reversed early gains to fall 2.18% after the automaker forecast a 20% decline in profit for the current financial year on cost and supply uncertainties stemming from the Middle East conflict.
Sony Group ended 0.51% lower as the game and audio equipment maker forecast annual sales at its gaming business would fall 6% due to lower hardware sales.
Toyota has fallen 13% so far this year, while Sony has lost 23%. The Topix has gained 12% during the same period.
Bank shares fell, with Mitsubishi UFJ Financial Group and Mizuho Financial Group losing 1.97% and 2.24%, respectively.
Chip-testing equipment maker Advantest reversed early losses to rise 0.57%.
Silicon wafer maker Sumco jumped 18% to become the top percentage gainer on the Nikkei.
Of the more than 1,600 stocks trading on the Tokyo Stock Exchange’s prime market, 52% fell, 45% rose and 2% traded flat.
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