Japan's Nikkei drops 0.9% to 59,000.21 as tech stocks retreat
Business
Japan's Nikkei index dropped 0.9% to 59,000.21 on Friday, stepping back from its recent record high.
The fall came as investors locked in profits from tech stocks that had soared earlier in the week: Tokyo Electron and SoftBank Group both saw notable dips of around 3%.
Topix slips 1.05% with cautious trading
The broader Topix index also slipped by 1.05%, though it still managed a small weekly gain.
Not every tech stock was down (TDK and Advantest actually rose), but others like Kioxia and Daikin Industries lost ground, reflecting split opinions among investors.
On the Tokyo Stock Exchange's prime market, only about one-third of stocks moved up, while nearly two-thirds fell, showing traders are playing it safe for now.