TOKYO, Sept 13 (Reuters) - Japanese stocks retreated from
three-decade peaks on Monday as investors took profits after a
recent rally, with declines in global equities fuelling a
The broad Topix fell 0.19% to 2,087.67 at the lunch
break, compared with its Friday close of 2,091.65, the highest
The Nikkei share average lost 0.29% to 30,292.84,
after marking an almost seven-month closing high of 30,381.84 at
the end of last week.
An index of Asia-Pacific shares excluding Japan
slid 0.8%, in line with Wall Street's declines
Transport equipment was the worst-performing
sector of the Topix, dropping 2.14% after Toyota last
week announced extra lost production of 400,000 vehicles over
this month and the next.
Japan's biggest automaker slumped 2.85%, while Honda
fell 1.72% and Nissan declined 1.05%.
On the Nikkei, consumer cyclical stocks fell the most, down
1.56%. Uniqlo store operator Fast Retailing was the
biggest drag on the index, sliding 1.24%.
SoftBank Group was the second-biggest weight,
The day's falls aside, many investors said the market
remained firm, buoyed by optimism about a change in the
country's prime minister and easing COVID-19 infections.
"Expectations among investors that the market will rise in
the medium- to long term mean that any dips are being bought,
and there won't be a big correction," said a market player at a
domestic securities firm.
Oil and coal producers made up the top-performing
Topix sector, gaining 1.04% on the back of rising oil prices.
Banking was another outperformer, with Shinsei
Bank rallying for a second day and rising 13.1% after
an unsolicited bid by SBI Holdings on Thursday.
Chipmakers also gained, with Tokyo Electron and
Advantest among the biggest supports for the Nikkei in
terms of index points, rising 1.08% and 0.99%, respectively.
(Reporting by Tokyo markets team; Editing by Devika Syamnath)