Tokyo: Shares close lower on profit-taking

[TOKYO] Tokyo's key Nikkei index snapped a 9-day winning streak and closed lower Monday (Mar 28) on profit-taking, as investors digested news of a lockdown imposed in Shanghai.

The benchmark Nikkei 225 index lost 0.7 per cent or 205.95 points to end at 27,943.89, while the broader Topix index slipped 0.4 per cent or 8.10 points to 1,973.37.

"The Nikkei index opened lower after shares had closed higher for 9 consecutive days... profit-taking became dominant against the backdrop of falls in US tech shares and a lockdown in Shanghai," Okasan Online Securities said.

China's financial hub on Monday launched a phased lockdown to curb an Omicron-fuelled Covid-19 outbreak.

The dollar fetched 123.18 yen in Asian trade, up from 122.17 yen in New York late Friday.

China-related shares were lower, with Uniqlo operator Fast Retailing dropping 1.8 per cent to 61,940 yen and industrial robot maker Fanuc falling 1.1 per cent to 21,850 yen.

SoftBank Group was flat at 5,402 yen after reports said the investment giant was finalising bank loans worth up to US$10 billion ahead of a planned initial public offering of the UK-based chip designer Arm.

Airlines were higher, with ANA Holdings jumping 2 per cent to 2,556.5 yen and Japan Airlines climbing 1.6 per cent to 2,233 yen.

Sony lost 1.1 per cent to 12,720 yen. AFP