TOKYO, June 27 (Xinhua) -- Japan's benchmark Nikkei stock index closed lower on Tuesday, extending its losing streak for a fourth-straight day, as technology issues followed their U.S. peers lower overnight.
The 225-issue Nikkei Stock Average lost 160.48 points, or 0.49 percent, from Monday to close the day at 32,538.33.
The broader Topix index, meanwhile, lost 6.36 points, or 0.28 percent, to finish at 2,253.81.
Dealers here said that bellwether technology shares were sold following similar issues losing ground on Wall Street overnight, dragging the Nikkei down to book its fourth consecutive day of decline for the first time in 2023.
They added that U.S. shares had come under pressure over ongoing concerns the U.S. Federal Reserve will continue with its aggressive rate hike policy, following remarks from Fed officials to that end, the most recent being from New York Fed President John Williams.
"Although the Fed paused interest rate hikes in June, the data is a matter of great interest, as investors will likely want to adjust their positions based on the extent of the rate hike slowdown," Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., was quoted as saying.
Attention has now shifted to key U.S. economic data, including U.S. durable goods orders, for clues as to the future course of the Fed's inflation-battling rate hikes, market analysts here said.
Technology issues weighing the most included CyberAgent slumping 4.1 percent, while Sony Group fell 1.2 percent.
Chip-testing equipment maker Advantest closed 2.5 percent lower, while Nikkei heavyweight SoftBank Group dropped 1.6 percent.
Oriental land, operator of the Tokyo Disney Resort, was a notable winner, jumping 3.8 percent, after saying ticket prices would be increased later this year.
Shipping issues helped trim losses, with Nippon Yusen adding 3.7 percent, Mitsui O.S.K. Lines up 3.1 percent, and Kawasaki Kisen Kaisha surging 11.5 percent.
By the close of play, pharmaceutical, precision instrument and real estate-linked issues comprised those that gained the most.
The turnover on the second trading day of the week came to 3,438.78 billion yen (23.92 billion U.S. dollars). ■