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Nikkei closes down as market skittish despite G-20 financial chiefs' pledges

Xinhua, February 29, 2016 Adjust font size:

Tokyo shares reversed earlier gains to close lower Monday as despite a comparatively weak yen, the Group of 20 finance chiefs' commitment on policies to tackle the global economic slowdown failed to decisively motivate the market.

The 225-issue Nikkei Stock Average lost 161.65 points, or 1.00 percent, from Friday to close the day at 16,026.76.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 13.42 points, or 1.02 percent, to end at 1,297.85.

The majority of industry categories retreated into negative territory, with oil and coal products, air transport and land transport-linked issues comprising the biggest decliners.

The turnover on the first trading day of the week was 2,594.4 billion yen (22.93 billion U.S. dollars). Endit