Nikkei retreats from two-month high, dragged down by energy shares

The Nikkei index closed lower on Wednesday after approaching a two-month high in the previous session, and Nintendo shares fell on lower profits as investors cautiously awaited US inflation data to speculate on the path of a future US interest rate hike.

The Nikkei’s losses increased in the evening session, closing down 0.56 percent to 27,716.43 points, down from a peak of 27,943.27 points reached on Tuesday, the highest level since mid-September.

The broader Topix index fell 0.41 percent to 1949.49 points.

Video game maker Nintendo fell 7.1 percent after cutting sales forecasts for its Switch by 10 percent. The worst performer on the Nikkei was after GS shares fell. Yuasa battery maker for electric cars 7.42 percent, following disappointing financial results.

Energy stocks also fell with the decline in oil prices and was the worst performer on the Nikkei index, and the sector index fell 2.67 percent.

Tokyo Electron Semiconductor Industries was the best performer on the Nikkei index, rising 1.62 percent.

Suzuki automaker’s stock rose 3.52 percent after the company announced unexpected positive results.