Japan stocks fall on profit-taking; trading firms surge on Buffett buying

Japanese stocks declined for two consecutive sessions due to investors locking in profits. Trading houses, however, increased after Warren Buffet added to his stakes in the sector. Tokio Marine Holdings and Mizuho Financial Group both dropped due to a broad sell-off in insurers and financial companies. The Topix index fell 0.81% to 2,271.91 but the trading house sector increased by 0.89%. Technical indicators show short-term overheating, causing investors to sell their stocks and lock their gains. McDonald’s Holdings Company Japan rose 0.52% after announcing a price increase in its urban locations.