Japan Shares Closed Lower Affected by US Bond Yields

Japan shares gave up early gains to close on Tuesday, March 23rd lower, following a weak performance in China markets as investors reaped profits from the recent rise of some companies on the mainland, while risk appetite was weakened by fluctuations in US bond yields.

The Nikkei index fell 0.61% to close at 28,995.92 points, while the broader Topix index fell 0.94% to 1971.48 points.

Treasury yields declined yesterday, but stabilized near the highest level in more than a year as investors bet on a faster recovery in the US economy and pressures from a higher inflation rate.

Heavyweight stocks fell on the Nikkei index, with SoftBank Group falling 0.9% and Fast Retailing 0.1%.

The shares of companies dependent on China fell, as the share of the company, the manufacturer of robot devices, Fanuc, lost 1.53%.

Japan Stock Exchange Group jumped 2.78% after the Tokyo Stock Exchange operator raised its forecast for full-year net profit to 51.5 billion yen from 45.5 billion yen.