Nikkei is down for the third consecutive session

Japan’s Nikkei fell for the third consecutive session on Monday, after spending the day swinging between small gains and losses.

The Nikkei index closed down 0.25 percent at 32,698.81 points. The benchmark index had fallen by about 2.4 percent in the previous two sessions, after rising over several months to a 33-year high of 33,772.89, last week.

The Nikkei has not fallen for more than two consecutive sessions since it began its current rally in mid-March.

The broader Topix index lost 0.2 percent to 2,260.17 points.

Chipmakers saw the biggest declines in the Nikkei, with Tokyo Electron down 0.83 percent and Advantest down 1 percent.

Among the notable gainers were Toyota Motor, whose shares rose 0.98 percent after falling to its lowest level since June 13 on Friday, as well as Nintendo, whose shares jumped 0.95 percent after retreating from Thursday’s 14-month high.