The Nikkei 225 opened lower and slumped through the day, finishing off 1.0% as traders booked profits with the index at 30-year highs, and weighed soft cues from the New York futures market. A 2.6% same-day tumble in Hong Kong also undercut sentiment, said analysts. Property issues fell back also, with the Tokyo Stock Exchange REIT Index declining 0.4%.
The Nikkei 225 lost 276.11 to 28,546.18, as losing issues outnumbered gainers 157 to 65.
Leading the upside on a down day were utility Tokyo Electric Power, aka Tepco (TKECF, 9501:Tokyo), up 4/9% as a harsh winter raised wholesale power rates in Japan. Tepco is up 56% year-to-date. Also gaining were camera-maker Canon (CAJ, 7751:Tokyo), up 4.4%, and then printer-maker Seiko Epson (SEKEF, 672:Tokyo), up 4.1%.
On the downside were shipper Kawasaki Kisen Kaisha (KAKKF, 9107:Tokyo), off 6.0%, and then steelmaker JFE (JFEEF, 5411:Tokyo), off 5.5%.
Restaurant sales in Japan in 2020 fell 15.1% from 2019, largely due to the COVID-19 pandemic and related business restrictions, the Japan Food Service Association said Monday.