Japan’s Nikkei Falls From 3-Decade High on Profit-Taking

Japan’s Nikkei fell at the close on Wednesday from a three-decade high hit in the previous session as investors took profits after a strong rally in the past two weeks, as regulatory concerns in China weighed on SoftBank Group and real estate stocks.

The Nikkei index fell 0.52% to close at 30,511.71 points. On Tuesday, it broke its February peak of 30,795.78, its highest since August 1990.

The broader Topix index fell 1.06% to 2,096.39 points.

The pace of recovery in the Japanese stock market has accelerated since Sept. 3, when Prime Minister Yoshihide Suga announced his intention to leave office, raising hopes of a new stimulus package.