TOKYO, March 23 (Reuters) - Japanese shares snapped early gains to end lower on Tuesday, tracking lacklustre performance in Chinese markets as investors locked in profit on a recent rally in some mainland firms, while the volatility of U.S. bond yields also dampened risk appetite.
"The retreat in the afternoon is simply due to the outside factors, such as declines in China stocks and U.S. futures," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.
"Investors held their bets as they are still cautious about the direction of the U.S. bond yields."
Treasury yields dipped on Monday, but held near more than one-year highs as investors bet on a faster U.S. economic recovery and higher inflation pressures. US/
Persistent worries of policy tightening in China also continued to weigh on high-flying sectors and stocks with lofty valuations as investors turned cautious.
Japan Exchange Group 8697.T jumped 2.78% after the operator of the Tokyo Stock Exchange raised its full-year net profit forecast to 51.5 billion yen ($473.17 million) from 45.5 billion yen. that gained the most among the top 30 core Topix names were Nintendo 7974.T up 1.59 %, followed by Seven & i Holdings 3382.T , up 1.23%.
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