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Tokyo, May 20 (QNA) – Japan’s Nikkei share average closed at a near three-week low on Wednesday, with SoftBank Group leading the decline, as investors locked in profits on AI-related stocks that had powered the market’s recent rally.
The Nikkei slipped 1.23 percent to 59,804.41, its lowest close since May 1. The index ended lower for a fifth consecutive session. The broader Topix declined 1.53 percent to 3,791.65.
Technology investor SoftBank Group tanked 6 percent on Wednesday and chip-making equipment maker Tokyo Electron lost 2.25 percent, ending the session among the biggest laggards on the index.
Fibre optic cable maker Fujikura fell 8.25 percent, extending losses for a fifth consecutive session.
Shares of Advantest, a supplier for Nvidia, bucked the trend and ended 1.32 percent higher.
Ube Corp surged 20.92 percent to become the Nikkei’s top percentage gainer after the cement maker announced plans to increase dividend payouts.
Of the roughly 1,600 stocks traded on the Tokyo Stock Exchange’s prime market, 81 percent fell, 16 percent advanced and 1 percent traded flat. (QNA)
