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Japan’s Nikkei Closes Lower Under Pressure from Technology Stocks

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Tokyo, June 10 (QNA) - Japan’s Nikkei index retreated on Wednesday as investors moved to sell high‑performing technology stocks, amid renewed tensions in the Middle East and the resulting concerns over energy prices.

The 225-issue Nikkei Stock Average fell 1.89% to close at 64,179.27 points, giving up the gains recorded in the previous session, when it rose 2.1%. The broader Topix index finished 1.25% lower, at 3,847.60 points.

On the Nikkei index, 99 stocks advanced while 126 declined.

The largest losers were all tech-related stocks, including Taiyo Yuden down by 12.9%, ⁠followed by Furukawa Electric and Sumitomo Electric both lower by 11.7%.

Nintendo was a standout among decliners, dropping 6.76% after the presentation of upcoming projects that did not meet the expectations of investors.

The largest gainers on the Nikkei were developer Mitsubishi Estate, up 5.2%, followed by Tokyo Disneyland operator Oriental Land, 4.3% higher, and Screen Holdings, which gained 4.2%. (QNA)

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