The 225-issue Nikkei Stock Average index was down 17.66 points, or 0.06%, to finish at 27,498.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange decreased by 3.24 points, or 0.16%, to 1,994.57.
Total 17 of 33 TSE sectors ended lower, with Electric Power & Gas, Securities & Commodities Futures, Banks, Machinery, Precision Instruments, and Other Financial Business issues being notable losers, while Iron & Steel, Nonferrous Metals, and Marine Transportation issues were notable gainers.
Tech shares declined as a rise in long-term U.S. interest rates stirred concern that higher borrowing costs would limit the growth of U.S. technology firms. Among tech shares, Sony Group fell 0.5% to 11,380 yen, while chip-manufacturing equipment maker Tokyo Electron dropped 1.6% to 46,830 yen.
ECONOMIC NEWS: The monetary base in Japan was down 1.6% on year in February, the Bank of Japan said on Thursday, coming in at 646.440 trillion yen. Banknotes in circulation rose 2.6% on year, while coins in circulation slumped 3.8%. Current account balances fell an annual 2.5%, including a 3.6% drop in reserve balances. The adjusted monetary base was up 31.1% on year to 657.838 trillion yen, slowing from 43.8% in January.
CURRENCY NEWS: The dollar strengthened to around upper 136 yen level in late Tokyo trading on Thursday, aided by rises in U.S. long-term interest rates. At 5 p.m., the dollar stood at 136.77-78 yen, up from 135.93-93 yen at the same time Wednesday.
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