Japanese stocks close lower

Japan’s Nikkei stock index fell today, as investors booked profits recently and a stronger yen weakened demand for exports.

Tokyo Marine Holdings shares fell 2.6%, dragging down the insurance subindex after the company forecast a 12% drop in annual profit.

Mizuho shares rose 2.7%, leading the banking index higher after announcing a plan to divest from cross-shareholdings.

The Nikkei extended losses in the evening session, closing down 0.6%. The broader Topix index fell 0.2%.

121 stocks advanced, compared to 102 decliners on the Nikkei, which is down about 6.5% since the beginning of the year.