Japan Nikkei falls on profit taking

Japan share market finished session lower on Thursday, 03 February 2022, as investors locked in gains following the market's four-day rally through the previous day, some lingering concerns about global growth and ongoing geopolitical tensions.

At closing bell, the 225-issue Nikkei Stock Average declined 292.29 points, or 1.06%, to 27,241.31. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 16.64 points, or 0.86%, to 1,919.92.

Among blue-chips, Tokyo Electron, Screen Holdings and Advantest gave up 2-4%. Heavyweight Fast Retailing, the operator of the Uniqlo casual clothing chain, tumbled 3.7% after reporting a decrease in its domestic sales in January.

CURRENCY NEWS: The dollar narrowed early losses to move around 114.60 yen in Tokyo trading Thursday, backed by position-adjusting buying. At 5 p.m., the dollar stood at 114.58-58 yen, down moderately from 114.62-63 yen at the same time Wednesday.

COMMODITY NEWS: Crude oil prices slipped during Asian trade on Thursday, as OPEC and its non-OPEC allies agreed to green-light an increase in crude output to 400,000 barrels a day for March as oil prices trade near record levels in part due to geopolitical tensions. U.S. crude futures fell 0.5% to $87.83 per barrel. Brent crude futures declined 0.4% to $89.14 per barrel.

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