Japan’s Nikkei ends four days of gains after Wall Street’s decline

Japan’s Nikkei index ended a four-session rally on Wednesday, dragged down by major technology stocks, after Wall Street fell sharply overnight on fears of an economic slowdown.

The Nikkei index closed down 0.91 percent at 2,6804.60 points. The broader Topix index fell 0.72 percent to 1,893.57 points.

Wall Street’s main indexes closed sharply lower on broad-based selling overnight, as poor consumer confidence data dealt a blow to investor optimism and fueled recession fears.

Chip maker Tokyo Electron fell 5.27 percent, playing the biggest role in the Nikkei’s decline. SoftBank Group fell 1.64% and phone company KDDI fell 1.89%.

LCD screen maker Nippon Electric Glass fell 4.31 percent and was the biggest loser on the Nikkei index.

Tokyo Electric Power Holdings Inc. jumped 5.27 percent, the biggest winner over the Nikkei, after Japanese Prime Minister Fumio Kishida said his country would make the most of nuclear energy and secure adequate energy supplies.

His comments came as hot weather in Tokyo broke a 150-year-old record in June, and authorities warned that power supplies remained weak, raising the possibility of blackouts.