EGN NEWS DESK
The 225-issue Nikkei index fell 0.96% to shut at 39,894.54 after opening 0.11% increased. It ended at a five-month closing excessive of 40,281.16 on Friday after a three-session profitable streak.
The benchmark index completed at its greatest year-end stage ever, topping the earlier excessive of 38,915.87 on Dec. 29, 1989, when Japan was within the speculation-driven bubble financial system.
The index rose 19.22% this yr, underpinned by a weaker yen and the central financial institution’s low-rate coverage. In 2023, it had gained 28%.
The broader Topix index eased 0.6% to 2.784.92.
“Investors offered shares at present as a result of they may not discover clear causes for the Nikkei to cross the 40,000 ranges,” mentioned Fumio Matsumoto, chief strategist at Okasan Securities.
“But that doesn’t imply buyers are pessimistic concerning the market within the coming yr. They may need to keep away from dangers in the course of the market shut in Japan for the brand new yr, which is longer than normal.”
Japanese markets will reopen on Jan. 6 after closing for the New Year holidays beginning Tuesday.
Uniqlo proprietor Fast Retailing shed 1.59% to pull on the Nikkei essentially the most. Chip-testing gear maker Advantest fell 2.6%.
Nissan slipped 5.73% to turn into the largest loser in proportion phrases on the benchmark. The carmaker surged 33.7% this month as merger talks with Honda surfaced. However, the inventory ended the yr 13.39% decrease.
Fujikura, which makes wire cabling for information facilities, grew sixfold this yr, turning into the highest gainer in proportion phrases on the Nikkei.
Lasertec, which makes inspection gear used within the manufacturing of semiconductors, fell 59% this yr and was the Nikkei’s worst performer.
