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The Tokyo Stock Exchange falls on the wave of profit taking and the US debt crisis

May 24, 2023

The Nikkei fell 0.89% at the close, registering 30,682.68 points. In the previous session, it fell from a high of 31,352.53 points, a level it did not reach until August 1990. The broader Topix index fell 0.42%, recording 2,152.40 points.

Cosmetics giant Shiseido fell 5.63%, overtaking losses on Nikkei, after the stock rose 20% since mid-March.

Shares of Sassiber Agent fell 4.7% before the share price was determined in a new stake that Rakuten Group will put on the market. Scipre Agent is a major investor in the new stock offering. Rakuten shares fell 2.01%.

However, shares of Toyota Motor jumped 5.36%, recovering from a huge decline during today’s session, which analysts said was due to a technical error in trading.

As for Fast Retailing, operator of Uniqlo clothing stores, it fell 2.92% after a report said the company could sell its shuttered stores in Russia.

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Arab Desk

Arab Desk

The Arab Desk leads The Eastern Herald's reporting on the Middle East and North Africa. The desk has covered the Gaza-Israel war since October 2023, the Iran-Israel war of 2025-2026, the fall of the Assad government in Syria, Hezbollah's political and military shifts in Lebanon, the war in Yemen, and the diplomatic realignment of the Gulf states under the Abraham Accords and the Saudi-Iranian rapprochement.

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