Japanese stocks closed lower today, Monday, with the Nikkei index dropping 0.71% to 28,949.88 points, closing below the 29,000 level for the first time since April 28. The index reached its highest level since January 2022 last Tuesday before the market closed for a three-day holiday. The broader Topix index fell 0.21% to 2,071.21 points.
Oil exploration company stocks lost 1.71%, making them the worst performers among 33 sub-indices on the Tokyo Stock Exchange, followed by the banking sector, which declined 1.27%.
Fast Retailing shares plummeted 3.13%, becoming the largest loser on the Nikkei index. Shares of technology investor SoftBank fell 0.97%. Meanwhile, Itochu shares rose 1.35%, and Marubeni's stock declined during the session after a reduction in full-year profit forecasts but later recovered to increase by 0.1%.
