Nikkei takes breather after hitting 26-year high; exporters weak
TOKYO: Japan’s Nikkei share average took a breather on Wednesday morning after rising to a fresh 26-year high in the previous session, as weakness in exporters such as Murata and Fanuc offset gains in real estate stocks.
The Nikkei dropped 0.4 percent to 24,021.73 in midmorning trade, after touching 24,129.34 on the previous day, the highest level since November 1991.
Murata Manufacturing shed 1.5 percent and Fanuc Corp tumbled 2.1 percent.
Banking shares also lost ground, with Mitsubishi UFJ Financial Group down 1.4 percent and Sumitomo Mitsui Financial Group off 1.5 percent.
On the other hand, stocks sensitive to domestic-demand such as real estate companies soared. Mitsui Fudosan surged 2.2 percent and Mitsubishi Estate advanced 1.5 percent.
The broader Topix shed 0.3 percent to 1,905.55.