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Japan's Nikkei falls after eight-session winning streak
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Japan's Nikkei falls after eight-session winning streak
Jun 22, 2026 7:48 PM

TOKYO, June 23 (Reuters) - Japan's Nikkei share average

drifted lower on Tuesday in choppy trade as traders took a

breather after an eight-session winning streak.

The Nikkei fell 1% to 71,645.26 after swinging

between gains and losses. The broader Topix slid 0.8% to

4,061.23.

"After a string of gains, the market appears to be seeing

some mild profit-taking," said Masahiro Ichikawa, chief market

strategist at Sumitomo Mitsui DS Asset Management.

There were 146 decliners in the Nikkei 225 against 76

advancers.

AI-related stocks that have underpinned the Nikkei's surge

recently were mixed. Cable and optical fibre maker Fujikura ( FKURF )

was the index's top performer with an 8.8% jump, while

tech investment giant SoftBank Group fell 8.1%.

Among the biggest percentage gainers, dairy and

confectionery maker Meiji Holdings ( MEJHF ) rose 3.1%, while

pharmaceutical company Otsuka Holdings ( OTSKY ) gained 2.1%.

On the downside, cable and components maker Furukawa

Electric ( FUWAF ) fell 10%, while non-ferrous metals producer

Mitsui Kinzoku ( XZJCF ) lost 8%.

The Nikkei has surged in recent months, hitting successive

record highs on sustained buying in AI- and

semiconductor-related stocks. The benchmark crossed the 72,000

level for the first time on Monday, just two sessions after

topping 71,000.

At the same time, a technical indicator, the 14-day relative

strength index, for the Nikkei stood at 73 as of Monday, above

the 70 mark that indicates shares may have risen too fast and

are poised for a reversal. The index was at 70.7 on Tuesday.

"The market had already been looking overheated for quite a

while as richly valued names kept rising, so it would not have

been surprising to see a correction at any time," Ichikawa said.

"Today, the selling appeared to pile up."

(Reporting by Satoshi Sugiyama; Editing by Subhranshu Sahu)

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