Tokyo stocks end lower on profit-taking

Tokyo stocks closed lower on Friday as investors took profits after the previous day's surge, while higher crude oil futures also weighed on the market.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 647.26 points, or 0.94 percent, from Thursday at 68,309.46.

The broader Topix index, meanwhile, finished 40.98 points, or 0.99 percent, lower at 4,091.00.

On the top-tier Prime Market, securities houses, information and communication, and consumer credit issues were among the notable decliners.

Artificial intelligence- and semiconductor-related shares led the selling following their recent sharp gains, which had helped push the Nikkei index up nearly 3,500 points over a two-day winning streak through Thursday. Elevated oil futures also pressured Tokyo stocks, analysts said.

Direct flights between China and Greece are bringing more Chinese tourists to Athens, boosting travel between the two countries.

For more Chinese travelers, Greece is getting closer. Flights are increasing, direct connections are growing, and for travelers from cities like Shanghai and Beijing, the journey to Athens is becoming much simpler.

"In 2024, the first time coming here, I had to take a flight to Istanbul and then doing a transfer to here. Now, it's a direct flight," said a Chinese traveler.

"I really like Greece. It's not my first time here. It's probably the sixth or seventh I am here over the past two years. It's a great place with nice weather and people," said another passenger who just landed in Athens.

In central Athens, history remains one of the biggest attractions.

Tour guides say Chinese visitors often find something familiar here, with both Greece and China shaped by ancient civilizations and a strong sense of cultural heritage.

"We have Socrates, Plato and Aristotle; they have Confucius and Mencius. So these are two great ancient civilizations. There is mutual respect," said a local tour guide in Athens.

But the way Chinese visitors spend is also changing. Local guides say tourists are becoming more selective, spending less on shopping than in the past and more on food, experiences and sightseeing.

What's changing now is not simply the number of Chinese travelers interested in Greece -- it's the capacity to bring them here.

With Shanghai now connected to Athens every day, and Beijing already served directly, traveling between the two countries is becoming faster and easier.

Passenger traffic jumped 42 percent in the first quarter, while Shanghai-Athens had already carried around 68,000 passengers by early August.

With more direct flights now in place, those numbers could climb further.

Juneyao Airlines has increased its Shanghai-Athens service to daily flights.

Air China is also continuing its direct Beijing-Athens route.

For Athens International Airport, that growing connectivity is opening up one of Asia's most important travel markets.

"So, it is true that the weekly frequencies have increased, the passenger numbers have increased. And I have to say that the Chinese market is very important to us, it's one of our top 20 markets, it keeps increasing a lot. And I think most importantly, what drives these increases in demand from China for Athens, has to do mainly with what we call the 'USP' of Athens, the 'unique selling proposition,'" said Ioanna Papadopoulou, director of communications and markets at Athens International Airport.