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Earlier in the day, the index advanced by 0.3 per cent before retreating to its closing level.
Angus Gluskie, of White Funds Management in Sydney, told Bloomberg that the "dominant factor" in the decline is the situation in Europe.
"At this stage, I think there is some superficial optimism that some sort of deal might be reached. Underneath the surface, though, I think investors still have a lot of questions," he stated.
The expert added that traders are "alert to risks" and that the majority will be looking closely at any decisions made.
Yesterday, the Nikkei 225 advanced by two per cent to close at 8,843.44 points as investors showed signs of optimism that a solution to the debt crisis in Europe will be found.
Posted by Chris Weaver
