Tokyo stocks close lower with shortage of clues

The benchmark Nikkei 225 index ended down 0.07 per cent or 21.81 points at 29,708.98 while the broader Topix index slipped 0.79 per cent or 15.57 points to close at 1,951.86. — Reuters pic
The benchmark Nikkei 225 index ended down 0.07 per cent or 21.81 points at 29,708.98 while the broader Topix index slipped 0.79 per cent or 15.57 points to close at 1,951.86. — Reuters pic

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TOKYO, April 8 ― Tokyo stocks closed lower today, as investors sidestepped active trading on a shortage of fresh clues.

The benchmark Nikkei 225 index ended down 0.07 per cent or 21.81 points at 29,708.98 while the broader Topix index slipped 0.79 per cent or 15.57 points to close at 1,951.86.

“Japanese shares are seen trading in a narrow range with lack of fresh clues for trading after mixed close on Wall Street,” Mizuho Securities said in a commentary.

Investors are “taking a wait-and-see attitude ahead of the corporate earnings season in Japan,” it said.

The dollar fetched ¥109.63 (RM4.13) in Asian trade, against ¥109.84 in New York late yesterday.

Toshiba ended down 0.44 per cent at ¥4,510 after a report said a British private equity firm offered a ¥5,000-a-share condition as part of a buyout offer the Japanese firm is mulling.

Hitachi Metal jumped 4.85 per cent to ¥1,901 after a report said its parent Hitachi has given preferential negotiating rights for a sale of the metals unit to a consortium of investment funds led by the US equity fund Bain Capital in a possible deal estimated to top ¥800 billion.

Hitachi slipped 0.87 per cent to ¥5,002.

Chip-testing equipment manufacturer Advantest dropped 2.84 per cent to ¥10,610, Toyota ended down 0.81 per cent at ¥8,418, and Panasonic was off 2.92 per cent at ¥1,364.

Uniqlo casual wear operator Fast Retailing was up 1.66 per cent at ¥90,980 ahead of reporting its earnings for the six months to February after the market close.

The casual wear operator posted a 22 per cent rise in operating profit and revised up full-year sales and profit forecasts. ― AFP

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