TOKYO, July 29 (Xinhua) -- Tokyo stocks extended declines on Tuesday, as investors continued profit-taking and position adjustments following the sharp rally last week.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 40,674.55, down 323.72 points or 0.79 percent, from the previous trading day.
Heavyweight stocks such as SoftBank Group and Tokyo Electron saw notable losses, leading the market lower. With the Nikkei having surged more than 4 percent last week and nearing its all-time high set in July 2024, heightened valuation concerns contributed to the downward pressure.
The broader Topix index also fell for a third straight day, closing down 22.09 points, or 0.75 percent, at 2,908.64.
Of the listed stocks on the Tokyo Prime Market, declining issues outnumbered gainers, with 970 stocks falling, 585 rising, and 70 unchanged. ■
