Japan Shares Close Lower as Sectors of The Economic Cycle Decline And Toshiba Falls

Japanese stocks closed slightly lower Friday, June 11th as losses incurred by cyclical stocks, as well as banks and real estate companies offset gains made by the technical heavyweights in the market.

The Nikkei index fell 0.03% to 28,948.73 points, while the broader Topix index fell 0.14% to 1954.02 points. On the week, Nikkei traded in a narrow range, posting a limited gain of 0.02%.

Toshiba’s stock fell 1.59% after the results of a shocking investigation were published yesterday, Thursday, which revealed that the company and the government colluded to put pressure on foreign investors to submit to the wishes of management.