Japanese stocks pull back from record highs as investors take profits

Japanese markets closed lower on Thursday as investors locked in profits after a strong rally that had pushed equities to record highs. The Nikkei 225 Index fell 0.98% to 62,654, while the broader Topix Index dropped 1.03% to 3,879.

Shares of SoftBank Group declined 4.3% despite the company reporting a sharp rise in quarterly profit, supported by valuation gains linked to its investment in OpenAI. Fujikura tumbled 19.1% even after posting strong double-digit growth in both sales and profits.

Meanwhile, mining firm Mitsui Kinzoku fell 7.9% after issuing a weaker profit outlook for FY2027 despite expecting higher revenue. Other major decliners included Kioxia Holdings, JX Advanced Metals, Mitsubishi Heavy Industries, Sumitomo Electric, and Sony Group.

Investors also kept a close watch on the meeting between US President Donald Trump and Chinese President Xi Jinping, hoping for better relations between the two countries despite ongoing tariff tensions and other disputes.

Powered by Capital Market - Live News