Tokyo Stocks End Monday in Red

(MENAFN) Tokyo’s stock market closed lower on Monday, weighed down by broad profit-taking in high-flying semiconductor and other recently surging sectors, as investors remained cautious amid ongoing political uncertainties and uneven corporate earnings results.

The Nikkei Stock Average, comprising 225 key issues, ended the session at 40,998.27—falling 457.96 points, or 1.1%, from Friday's close.

Although early gains were driven by strong performances on Wall Street and a newly inked trade deal between the U.S. and EU, the positive momentum faded quickly. Markets reversed direction and slid for the rest of the day.

Heavy selling in prominent semiconductor stocks and major banks added to the downward pressure.

The Topix index, which reflects broader market trends, also fell, declining by 21.13 points, or 0.72%, to close at 2,930.73.

On the Tokyo Prime Market, losing stocks outpaced winners, with 860 issues down versus 695 gaining. Seventy stocks closed flat.

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