A sharp decline in the Japanese Nikkei index for the second day in a row

Japan's Nikkei index fell sharply for the second day in a row Thursday, June 8, as investors took profits from a recent rally in technology stocks.

The Nikkei's losses accelerated in the second half of the session, to decline by 0.85% at the close, recording 31,641.27 points. The broader Topix index fell 0.67% to 2,191.50 points.

Sony Group shares fell 1.65%, Hoya Semiconductor Materials fell 3.89%, and SoftBank Group shares fell 1.47%.

But Esai Pharmaceuticals rose 7.37%, leading gains in Nikkei after US regulators gave a positive assessment of advanced-stage trials of the company's Alzheimer's treatment.

On Wednesday, the Nikkei saw its biggest drop in three months, paring a solid 15% gain over the past three months that outperformed other global bourses.

Of the stocks listed on the Nikkei, 147 fell and 78 rose.

The precision machinery manufacturing sector lost 2.59%, becoming the worst performer among the 33 sub-sectors.

As for shipping companies, they were the biggest gainers, rising 2.28%.