Japanese stocks fell for a second session, giving up early gains, as sales to investors to take profits and rebalance positions at the end of the month overshadowed a batch of technology companies that announced positive profits.<\/p>\n\n\n\n
Investors are growing concerned about more market turmoil as retail frenzy boosts market volatility and speculation of further liquidation by the affected market players.<\/p>\n\n\n\n
The benchmark Nikkei index fell 1.89% to 27,663.39 points, its biggest drop since July 31, and below its 25-day moving average price. The broader Topix index fell 1.64% to 1,808.78 points.<\/p>\n\n\n\n
Losses accelerated after citron Research said it would make a major announcement later in the day. They will see a short-selling hedge fund engaged in share buybacks in order to cover potential gamestop losses.<\/p>\n\n\n\n
Shares of companies that have recently gained ground, such as Canon, whose stock fell 7.4%, even as the camera and printing equipment maker announced strong profit growth in the last quarter, as expected.<\/p>\n\n\n\n
Chip-related companies that reported strong earnings also declined.<\/p>\n\n\n\n
Advantest shares fell 1.9%, erasing 5.1% early gains, after the company raised its earnings forecast for the year ending in March, attributing this to strong demand for chip testers.<\/p>\n\n\n\n
Tokyo Electron fell 4.9%, erasing a 2.4% gain after the chipmaker raised its annual forecast.<\/p>\n\n\n\n
However, some companies managed to preserve the equity gains after announcing strong results. Among technology stocks, Fujitsu gained 1.5% and Shinko Electric gained 7.2%.<\/p>\n\n\n\n
Nomura Real Estate rose 6.7% and Oriental Land rose 1.3%, after results showed a stronger-than-expected recovery for Tokyo Disney Park.<\/p>\n","protected":false},"excerpt":{"rendered":"
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