Tokyo Stocks Close Friday in Red

(MENAFN) Tokyo's equity markets closed sharply in the red on Friday, as profit-taking swept across trading floors following the Nikkei index's historic surge to a record peak just one session earlier.

The benchmark Nikkei 225-issue Stock Average shed 1,042.44 points, or 1.75 percent, closing at 58,475.90 — a notable pullback after the index had surged to within striking distance of the 60,000 milestone on Thursday.

The broader Topix index mirrored the downturn, retreating 53.65 points, or 1.41 percent, to settle at 3,760.81 by the end of the trading session.

Friday's decline was driven largely by a wave of selling concentrated in heavyweight technology stocks — the very sector that had powered the Nikkei's historic run the day prior. With valuations stretched following Thursday's record-setting rally, traders moved swiftly to secure profits before the weekend, triggering the broad-based retreat.

The session underscored the fragile momentum underpinning Tokyo's recent gains, as market participants weigh whether the index has the fundamental backing to push decisively past the psychologically significant 60,000 threshold, or whether the record-high euphoria may give way to a more sustained period of consolidation in the sessions ahead.

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