Japan Shares Closing Lower But Nikkei is up 1.4%

Japanese stocks closed lower, after a wave of selling in technology shares that rose a lot on Wall Street pushed the market to its biggest drop in nearly three months. However, Tokyo markets closed the week higher.

The benchmark Nikkei index closed 1.1% down at 23,205.43 points, shy of its six-month closing high it reached on Thursday. The number of declining shares outnumbered that rising by 161 to 54.

The broader TOPIX index fell 0.9% to 1616.60 points. During the week, the Nikkei index gained about 1.4%, ending its two-week losses, and the TOPIX index rose 0.7%.

The Nasdaq index lost about 5% after achieving a record close, while the heavyweight stocks Apple, Microsoft and Amazon fell the most.

Meanwhile, analysts say investors were cautious ahead of the US jobs data expected to be released later today.