Tokyo:Tokyo stocks experienced a downturn on Wednesday as investors sold AI-related shares to secure profits following a rapid rally.

According to Qatar News Agency, the Nikkei index saw a decrease of 0.92%, bringing it down to 70,035.71, while the broader Topix index fell 0.70% to 4,154.11.

Among specific companies, shares of Advantest, a chip-testing equipment maker, dropped by 1.34%. Tokyo Electron's shares declined by 2.38%, and Kioxia Holdings, a memory-chip maker, saw a significant fall of 4.46%. The dip in Japanese stocks was further influenced by a 0.8% decrease in Nasdaq futures during Asian trading hours.

In contrast to the overall market trend, SoftBank Group shares rose by 0.24%. However, shares of Fast Retailing, known for the Uniqlo brand, fell 1.07%. Kirin Holdings and Asahi Holdings also experienced declines, with their shares falling 1.44% and 0.97%, respectively.