TOKYO, May 14 (Xinhua) -- Tokyo stocks retreated on Wednesday as investors moved to lock in profits after the index recovered the psychologically significant 38,000 level the previous day.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 38,128.13, down 55.13 points, or 0.14 percent from the previous trading day.
Early gains were driven by overnight advances in the Nasdaq Composite and Philadelphia Semiconductor Index (SOX), fueling demand for high-priced semiconductor-related shares like Advantest and Tokyo Electron in Tokyo trading.
However, profit-taking and selling pressure from investors who had waited for the market to rebound outweighed early buying. A stronger yen, briefly trading in the upper 146 range against the U.S. dollar, also weighed on export-related stocks such as Toyota.
The broader Topix index also ended lower for the first time in 14 sessions, dipping 8.85 points, or 0.32 percent to 2,763.29.
Among listed issues on the Tokyo Stock Exchange Prime Market, decliners outnumbered gainers 1,033 to 570, with 30 stocks unchanged. ■
