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  • Tokyo shares slipped Monday, as investors digested falls on Wall Street and searched for new cues with the US market closed for a holiday. The Nikkei 225 index fell 0.50 percent, or 115.48 points, to 23,089.95. The broader Topix index dropped 0.42 percent, or 6.86 points, to 1,609.74. The market moved within a narrow band, but spent most of the day in negative territory after US shares headed south on Friday. "Dip-buying provided support," allowing the market to bob above water several times during the day, Okasan Online Securities said in a note. "There was an increasing mood for position adjustment" that dragged down the overall market, the brokerage said, as investors looked for fresh cues. SMBC Nikko Securities said: "With the US market staying shut on Monday for Labour Day, investors began to take wait-and-see stances toward the end of the trade, accelerating the market's fall." The dollar stood at 106.27 yen, nearly flat from 106.24 yen in New York Friday. Among major shares, SoftBank Group plunged 7.15 percent to 5,881 yen following news reports that it has engaged in high-risk derivatives trading of tech shares. Analysts said the news made investors wary given recent declines in the tech-heavy Nasdaq. Other tech shares also took hits. Tokyo Electron, which makes tools to produce semiconductors, gave up 3.68 percent to 26,400 yen. Advantest, creator of semiconductor testing equipment, trimmed earlier losses and ended 0.40 percent lower at 5,020 yen. Game and entertainment conglomerate Sony lost 1.09 percent to 8,198 yen. Toyota fell 1.14 percent to 6,966. Game giant Nintendo gave up earlier gains and ended 1.42 percent lower at 58,950. Uniqlo-operator Fast Retailing added 0.40 percent to 66,070 in volatile trade. Nippon Steel rose 2.17 percent to 1,108. Ad agency Dentsu, an integral part of organising the Tokyo Olympics, jumped 4.68 percent to 2,952 following an AFP interview with IOC vice president John Coates, who said the delayed Games in 2021 will take place regardless of the pandemic. hih/sah/qan
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  • Tokyo shares fall with dearth of fresh trading cues
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