Japanese Nikkei index recorded the longest streak of losses in 2023

Japan’s Nikkei index recorded its longest losing streak this year on Tuesday, with shares of many of the country’s biggest technology companies falling, trailing their US counterparts at the end of Monday’s trading.

Despite the continued dominance of profit-taking sales after the Nikkei index reached a peak of 33 years last week, the losses of the last session increased due to the gains of Chinese stocks amid growing expectations of imminent government stimulus.

The Nikkei ended Tuesday down 0.49 percent at 32,538.33 points, trimming continuous losses in most of the afternoon’s trading. The index earlier fell as much as 1.2 percent.

The broader Topix index fell 0.28 percent to 2,253.81 points.

The Nikkei fell 3.1%, extending a four-day losing streak, the longest since mid-December. It had hit a 33-year high of 33,772.89 points on June 19.

Online advertising company Cyber Agent led the Nikkei losses, as its share plunged 4.08 percent, while chip testing equipment Advantest fell 2.49 percent.

The share of the Soft Bank Group to invest in emerging companies fell 1.57 percent, as well as the share of Sony Group, 1.23 percent, and Recruit Holdings for employment, 1.43 percent.

On the contrary, the shares of shipping companies led the gains, as Kawasaki Kisen Kaisha jumped 11.49 percent. Nippon Yushin rose 3.7 percent and Mitsui OSK 3.08 percent.