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Shares in Japan fell on Wednesday as technology stocks tracked declines on the Nasdaq, with investors cautious ahead of earnings reports from U.S. technology giants Apple and Facebook. Shares in Japan fell on Wednesday as technology stocks tracked declines on the Nasdaq. Investors were cautious ahead of earnings reports from U.S. technology giants Apple and Facebook.


Japanese shares fell on Friday, hit by losses in technology heavyweights after the Nasdaq dropped 1% overnight. Fears of inflation and higher interest rates dented risk appetite.
The Nikkei share average (.N225) closed 0.9% lower at 27,522.26, after losing more than 2% earlier in the session. The broader Topix (.TOPX) lost 0.59% to 1,927.18.
The Nikkei lost 2.1% for the week, its biggest in seven weeks, while the Topix fell 2.5% in its worst week in eight. This was due to investors selling stocks on fears of a global economic slowdown.
Kazuharu Konishi, head of equities at Mitsubishi UFJ Kokusai Asset Management, said the market tracked Wall Street and chip-related shares became a target of a sell-off after the Nasdaq's losses.
Investors will remain cautious about making any positive or negative comments about U.S. rates until the Federal Open Market Committee meets next week.
The main indexes on Wall Street closed sharply lower overnight, as investors considered whether equities were bargains after a sell-off to start the year. The Nasdaq has fallen into correction territory, raising concerns about the overall market.
Tokyo Electron (8035.T), Advantest and Shin-Etsu Chemical (4063.T) stocks led the losses, with Tokyo Electron (8035.T) losing 6.2%, Advantest dropping 3.98% and Shin-Etsu Chemical (4063.T) shedding 2.07%.
Toyota Motor (7203.T) fell 2.48% after the automaker said it would slow production at as many as 11 plants in Japan because of rising COVID-19 infections among its workers and those at parts suppliers.
As the coronavirus infections surge to a record, Japan's western prefecture of Osaka and two neighbouring regions are expected to join in a declaration of COVID prevention measures, which already cover the capital Tokyo and a dozen other regions.
Despite the expected wider curb, airline and railway shares were the top gainers among the exchange's 33 industry sub-indexes, gaining 3.84% and 1.54%, respectively.
ANA Holdings (9202.T) and Keisei Electric Railway (9009.T) both jumped 3.73% and 3.48%, respectively.

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