Nikkei ends at three-week low on profit-taking as second half of fiscal year begins
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Japan's Nikkei share average ended at a three-week low on Wednesday in a broad sell-off as investors booked profits from the latest rally at the start of the second half of the fiscal year. The Nikkei fell 0.85% at 44,550.85, its lowest close since September 11. The index lost for a fourth straight session. The broader Topix lost 1.37% at 3,094.74. "It is a retreat from the rally that boosted the Nikkei until last month," said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory. "Investors wanted to take profits, so sold the stocks that rose the most, such as Tokyo Electron and SoftBank Group." Live Events Chip-making equipment maker Tokyo Electron surged 27.6% in September in its largest monthly gain since February 2024, making it a key driver behind the Nikkei's record high hit last month. The index added 5.2% in September in its sixth straight month of gains. On the day, Tokyo Elect...