TOKYO, May 7 (Xinhua) -- Japan's key stock index falls for the first time in eight trading sessions on Wednesday as a stronger yen dampened enthusiasm for export-related stocks, weighing on the overall market.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 36,779.66, down 51.03 points, or 0.14 percent from the previous trading day.
The drop followed a decline in U.S. stocks during Japan's holiday on May 6. Additionally, the yen strengthened significantly against the U.S. dollar during Japan's extended holiday period, briefly rising to the 142-yen level per dollar.
There was some upward momentum on expectations that U.S.-China trade tensions might ease, but investor optimism proved short-lived.
The Nikkei had initially opened higher and gained more than 100 points at one stage, but the rally quickly faded amid profit-taking.
In contrast, the TOPIX index rose for a ninth straight session, matching the nine-day streak last seen in March 2021. It closed up 8.38 points, or 0.31 percent at 2,696.16.
Among listed issues on the Tokyo Stock Exchange Prime Market, 1,035 rose, 550 fell, and 50 remained unchanged. ■
