Tokyo stocks close down after falls in US

The benchmark Nikkei 225 index fell 0.64 per cent, or 149.69 points, to 23,379.81, while the broader Topix index was down 0.45 per cent, or 7.76 points, at 1,706.73. — Reuters pic
The benchmark Nikkei 225 index fell 0.64 per cent, or 149.69 points, to 23,379.81, while the broader Topix index was down 0.45 per cent, or 7.76 points, at 1,706.73. — Reuters pic

TOKYO, Dec 3 — Tokyo stocks closed lower on Tuesday as investors locked in profits following declines in American shares, which came under pressure from weak US data and trade worries.

The benchmark Nikkei 225 index fell 0.64 per cent, or 149.69 points, to 23,379.81, while the broader Topix index was down 0.45 per cent, or 7.76 points, at 1,706.73.

Shares on Wall Street had dropped overnight after the Institute for Supply Management reported a fourth straight monthly decline in manufacturing sector activity.

Before Asian trade, US President Donald Trump announced he would reinstate tariffs on steel and aluminium from Argentina and Brazil, accusing the South American countries of “presiding over a massive devaluation of their currencies” which he said hurt US farmers.

The comments added to worries about the US-China trade war, analysts said.

“Such negative elements gave investors an excuse to lock in profits,” IwaiCosmo Securities broker Toshikazu Horiuchi told AFP.

The dollar fetched ¥109.16 (RM4.18) in Asian afternoon trade, against ¥108.96 in New York.

In Tokyo, exporters were lower, with Nissan falling 1.46 per cent to ¥678.2 and Toyota losing 0.25 per cent to ¥7,718.

Market heavyweight SoftBank Group dropped 1.20 per cent to ¥4,185 with Uniqlo casual wear operator Fast Retailing down 0.88 per cent at ¥67,200. — AFP

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