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LoginJapan's Nikkei Edges Lower Amid Caution Over AI Stock Rally
Tokyo, May 27 (QNA) - Japan's Nikkei stock index pulled back from record highs to close nearly unchanged on Wednesday, as investors grew increasingly cautious following a rapid rally in artificial intelligence-related shares.
The Nikkei ended the day at 64,999.41, after gaining as much as 2.2 percent earlier in the session to hit an intraday high of 66,428.81. Meanwhile, the broader Topix index declined 0.52 percent to 3,918.01.
Chip-making equipment manufacturer Tokyo Electron rose 2.1 percent, and Advantest, a company specializing in chip-testing equipment, climbed 4.05 percent, making them the session's top gainers.
Banking and financial shares weighed down the Topix. Sumitomo Mitsui Financial Group dropped 1.9 percent, Mitsubishi UFJ Financial Group slid 0.98 percent, and Mizuho Financial Group fell 1.93 percent.
Value stocks within the Topix index fell 0.85 percent, while growth stocks eased 0.15 percent.
Of the roughly 1,600 stocks listed on the Tokyo Stock Exchange's Prime Market, 45 percent advanced, 50 percent declined, and about 3 percent remained unchanged. (QNA)
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