The 225-issue Nikkei Stock Average index declined 272.47 points, or 0.85%, to finish at 31,641.27. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 14.80 points, or 0.67%, to 2,191.50.

Shares of technology issues declined on following a drop of the U.S. peers overnight. Among technology shares, online game company Nexon plunged 6.6%, while Fujitsu was down 2%.

Energy-related stocks advanced after the benchmark West Texas Intermediate crude oil futures contract for July rose overnight on expectations inventories will fall. Japan Petroleum Exploration gained 1.8% and oil refiner Eneos Holdings rose 0.8%.

ECONOMIC NEWS: Japan GDP Grows 0.7% In Q1 2023- Japan's gross domestic product expanded a seasonally adjusted 0.7% on quarter in the first three months of 2023, the Cabinet Office said on Thursday. On an annualized basis, GDP climbed 2.7% on year - also topping expectations for a gain of 1.6% following the 0.1% rise in the previous three months. Capital expenditure was up 1.4% on quarter, beating forecasts for a gain of 0.9% after sinking 0.5% in the previous quarter.

Japan Bank Lending Rises 3.4% On Year In May-Overall bank lending in Japan was up 3.4% on year in May, the Bank of Japan said on Thursday - coming in at 602.335 trillion yen. Excluding trusts, lending climbed an annual 3.8% to 525.376 trillion yen - accelerating from 3.5% in the previous month. Lending from trusts rose 1.1% on year to 76.959 trillion yen, steady from the previous month. Lending from foreign banks spiked an annual 8.7% to 3.729 trillion yen, up from 8.1% a month earlier.

CURRENCY NEWS: The dollar fetched 139.72-74 yen compared with 140.11-21 yen in New York and 139.43-45 yen in Tokyo at 5 p.m. Wednesday.

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