TOKYO: Japanese shares reversed course to end lower on Monday as some investors adjusted positions ahead of the end of the fiscal year, while concerns over rising US bond yields also weighed on sentiment.
The Nikkei share average fell 0.42% to close at 28,743.25, while the broader Topix edged down 0.14% to 1,893.58. “Investors are trying to take advantage of the recent rally to adjust their positions toward the end of the fiscal year in March,” said Takashi Hiroki, chief strategist, Monex Securities.
Japanese shares made a strong start to 2021, with the Nikkei touching 30,000 level for the first time in 30 years last month on optimism over COVID-19 vaccine rollouts and an economic recovery.
On Monday, Uniqlo clothing chain operator Fast Retailing lost 1.66%. Fund manager SoftBank Group fell 2.36% and chip testing equipment maker Advantest declined 3.38%.
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