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Tokyo stocks close lower tracking falls on Asian bourses

Tokyo stocks close lower tracking falls on Asian boursesTOKYO: Tokyo stocks closed lower on Thursday with the market weighed down by profit-taking and worsening sentiment on falls in Chinese shares.

The benchmark Nikkei 225 index fell 0.80 percent or 182.96 points to 22,658.16 at the close, while the the broader Topix index ended down 0.54 percent or 9.23 points at 1,704.64.

The dollar fetched 112.50 yen in early Asian trade against 112.59 yen in New York.

“Investors are swinging between joy and sorrow watching the Chinese market and the currency” rate of the yen against the dollar, Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

After opening in positive territory, the Nikkei index dipped due to profit-taking before rebounding slightly, he noted.

China-linked shares were lower partly because of worries over the country’s economic slowdown, analysts said, with industrial robot maker Fanuc dropping 4.07 percent to 19,175 yen and construction machine maker Komatsu losing 2.90 percent to 3,173 yen.

Game giant Nintendo was down 0.32 percent at 39,640 yen while market heavyweight and Uniqlo casual wear operator Fast Retailing closed down 1.41 percent at 55,830 yen.

Copyright AFP (Agence France-Press), 2018

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Source: Brecorder

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