Japan Shares Close Lower Ahead of US Inflation Data

Japanese shares closed lower on Wednesday, June 9, on profit-taking sales of shipping and semiconductor shares, while investors awaited US inflation data that may have an impact on when the US Federal Reserve will reduce its stimulus program.

Financial sector stocks and insurance companies fell after the decline in US Treasury yields, which reduced the yield expectations for their portfolios.

The Nikkei index closed down 0.35% at 28860.50 points, while the broader Topix index fell 0.28% to 1957.14 points.

The shipping sector on Topix was the hardest hit among the sub-sectors, down 3.33% after hitting its highest level in a decade.