Japan’s Nikkei Pulls Back from Record Highs on Tech Losses

Japan: Japan's Nikkei index retreated on Friday from the record highs reached in the previous session, weighed down by technology stocks amid concerns over continued tensions in the Middle East. The Nikkei 225 fell 0.3% to close at 62,636.00 points, after surging 5.6% on Thursday to finish above the 63,000-point mark for the first time on record.

According to Qatar News Agency, the broader Topix index also declined 0.66% to 3,815.09 points. Market sentiment was pressured by a 4.6% drop in shares of technology investment giant SoftBank Group, following overnight losses in US-listed Arm Holdings and mounting concerns over artificial intelligence chip supply chains.