Japan Shares Close Lower, But Record Gains For The Second Week in a Row

Japanese stocks fell at the end of the last sessions of the week, affected by doubts about the expectations of local companies, while technology shares recorded gains, tracking the rise of the Nasdaq index, which limited losses.

The Nikkei index lost 0.61% to close at 29611.57 points, after rising 0.15% earlier in the session after a strong closing of the major US indices.

The broader Topix index fell 0.69% to 2041.42 points.

During the week, the Nikkei rose by 2.49%, while the Topix rose by 2.01%. Both recorded a rise for the second week in a row.

Toyota Motor shares fell 1.36%, after the automaker warned that a shortage of semiconductors around the world continues to threaten its annual production plans.

The share of Daikin Industries, the manufacturer of air conditioners, fell 2.64%, while the share of Terumo Medical Devices fell 5.42%, and they were at the forefront of losses on the Nikkei index, after their expectations were less than the market consensus.

SoftBank’s share also fell by 4.84%, after its semi-annual net profit decreased by 2.5 percent due to the reduction of phone fees.