At closing bell, the 225-issue Nikkei Stock Average declined 329.40 points, or 1.15%, to 28,279.09. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 23.55 points, or 1.2%, to 1,939.61.
Trading volume turnover in the 1st section decreased to 971 million shares from 981 million shares in previous session. Trading value turnover decreased to 2,114.21 billion yen from 2,242.97 billion yen in previous session.
Total 32 of 33 sectors sub-indexes on the Tokyo exchange ended lower, with bottom performing were Mining (down 2.4%), Land Transportation (down 1.9%), Other Financial Business (down 1.9%), Electric Power & Gas (down 1.8%), Precision Instruments (down 1.7%), and Metal Products (down 1.6%) issues, while five performing issue was Iron & Steel (up 1%).
ECONOMIC NEWS: Japan Tertiary Activity Declines for Second Straight Month in May-Japan's tertiary activity index fell 2.7% month-on-month in May, following a 0.8% decrease in April, data from the Ministry of Economy, Trade and Industry showed on Thursday. Among the individual components, medical, health care and welfare, living and amusement-related services, wholesale trade, information and communications, transport and postal activities, finance and insurance, retail trade, and goods rental and leasing declined in May. Meanwhile, business-related services, real estate, flat industry, and electricity, gas, heat supply and water increased. On a yearly basis, tertiary activity increased 10.3% in May, following a 9.9% rise in the previous month.
CURRENCY NEWS: The U.S. dollar remained weak in the upper 109 yen range after the unit was sold overnight on speculation that a decline in U.S. Treasury yields would narrow the interest rate gap between the United States and Japan. The Japanese yen traded at 109.79 per dollar, stronger than levels above 110.4 seen against the greenback earlier in the week.
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