Picture used for illustrative purpose. File
Tokyo stocks closed lower Tuesday as investors reaped profits on rebounds while waiting for earnings from major companies later in the week.
The key Nikkei 225 index dropped 0.26 per cent, or 58.47 points, to end at 22,657.38, extending its losing streak to the third trading day.
The broader Topix lost 0.48 per cent, or 7.57 points, to 1,569.12.
After opening flat, share prices staged a rebound largely on rises in technology issues, only to be met with profit-taking.
"Profit-taking became dominant in the afternoon session as investors grew cautious" after seeing the Nikkei lose steam above 22,800, Okasan Online Securities chief strategist Yoshihiro Ito said in a note.
The yen's rise took a breather, with the dollar trading at 105.55 yen against 105.38 yen in New York Monday afternoon.
The main highlights of the week will likely be the US Fed forward guidance on Wednesday, along with a raft of earnings releases, including Amazon, Apple and other tech heavyweights, said Stephen Innes, global market strategist at AxiCorp.
"How much appetite traders have to add on risk is probably limited.
"But this is not a typical market with so much health and economic headline risk so best to keep on your toes," he said in a commentary.
Nissan Motor lost 4.33 percent to 410.8 yen ahead of its announcement of April-June earnings.
Mitsubishi Motors plunged 12.63 percent to 235 yen after forecasting a larger-than-expected loss for the current business year.
Fujifilm Holdings climbed 3.09 percent to 4,925 yen on news that the US government is providing funds to a US subsidiary for a new coronavirus vaccine.
Daiichi Sankyo shot up 10.28 percent to 9,557 yen after the drugmaker announced a global collaboration with AstraZeneca for development and commercialisation of an experimental cancer drug.
SoftBank Group rose 2.24 percent to 6,645 yen.
The benchmark Nikkei 225 index fell 0.44 per cent, or 104.41 points, to 23,454.89 while the broader Topix index lost 0.62 per cent, or 10.26 points, to 1,640.84.
The benchmark Nikkei 225 index gained 0.65 per cent, or 152.81 points, at 23,559.30, while the broader Topix index was up 0.88 per cent, or 14.46 points, at 1,651.10.
The Nikkei 225, which snapped a six-day losing streak on Monday, added 378.28 points to close at 22,573.66, while the broader Topix index rallied 2.14 per cent, or 32.62 points, to 1,555.26.
The number of Americans filing new claims for unemployment benefits fell below 500,000 last week for the first since the COVID-19 pandemic started more than a year ago, signaling the labor market recovery
Shares rose to near record highs on Thursday, underpinned by a better outlook from Europe’s leading carmaker Volkswagen and increasing confidence in economic recovery in Germany and more widely.
Pakistan Business Council in Dubai, a business policy advocacy platform with 600 business members, has thanked the UAE for its support to the Pakistani business community and vowed to bolster trade between the two countries.
Masdar and Taaleri Energia, which invests in utility-scale wind and solar assets, have agreed to develop a 65-megawatt (MW) solar photovoltaic (PV) project in Greece. The project will be managed through the companies’ joint venture Masdar-Taaleri Generation (MTG).