The Nikkei Average Index closed down 536 points or 1.1%, with a weekly increase of 0.5%

Japanese stocks fell, ending a three-day rise, influenced by profit-taking, with about 70% of stocks in the Tokyo Stock Exchange Prime market declining. The Nikkei average opened down 498 points, with the initial decline narrowing to 393 points at 50,634 points before moving downward, at one point dropping 813 points to a low of 50,215 points, closing down 536 points or 1.1% at 50,491 points, with a cumulative weekly increase of 237 points or 0.5%.

In the AI concept and semiconductor stocks, SoftBank (9984.JP) and memory chip stock Kioxia (285A.JP) rose 6% and 4%, respectively, while Discus (6146.JP) and Raytech (6920.JP) increased by 1.4% and 1.2%. Tokyo Electron (8035.JP) and Nvidia supplier Advantest (6857.JP) fell 2% and 2.4%. Wire stocks Furukawa Electric (5801.JP) and Sumitomo Electric (5802.JP) decreased by 0.9% and 0.7%, while Fujikura (5803.JP) rose 1.8%.

Robot stocks Fanuc (6954.JP) retreated 0.4%, while Yaskawa Electric (6506.JP) rose 0.6%. Heavy industry stocks Mitsubishi Heavy Industries (7011.JP) and Kawasaki Heavy Industries (7012.JP) increased by 0.9% and 0.1%, respectively, while IHI (7013.JP) rose 1.8%. JX Metals (5016.JP) increased by 4.6%, while electric power stock Tokyo Electric Power Company (9501.JP) fell 1.7%.

In other stocks, banking stocks MUFG (8306.JP) and Sumitomo Mitsui Financial Group (8316.JP) rose 0.6% and 1%, respectively. Rakuten Group (4755.JP) rose 1%, while cartoon IP parent company Sanrio (8136.JP) and Panasonic (6752.JP) fell 0.6% and 1.3%, respectively. Hitachi (6501.JP) and Sony (6758.JP) fell 1.5% and 1.9%, respectively, while Fast Retailing (9983.JP) and Toyota (7203.JP) fell 2.3%, and Nintendo (7974.JP) fell 2.9%, with Ryohin Keikaku (7453.JP) down 4.5%.

The Japanese yen rose, with the dollar falling over 0.3% against the yen to 154.53