Japan’s Nikkei erases gains, extends losses into eighth session

Japan’s Nikkei share average closed lower on Friday, erasing early gains and extending losses into an eighth session, as traders adjusted positions amid uncertainty over Wall Street after a volatile session.

The Nikkei fell 0.53% to close at 37,667.41, its lowest close since April 25, after rising as much as 0.6% as traders bought shares that appeared undervalued.

For the week, the index fell 5.48%, marking its worst week since mid-April. The broader Topix index fell 0.38% to 2,699.54, losing 5.28% for the week.