Tokyo stocks close down as Brussels attacks weigh, weak yen caps losses

Tokyo stocks closed lower Wednesday as investors' appetite to take risks was diminished by the Brussels terror attacks, although a comparatively weak yen capped the market's losses.

The 225-issue Nikkei Stock Average lost 47.57 points, or 0.28 percent, from Tuesday to end the day at 17,000.98.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, finished 5.73 points, or 0.42 percent, lower at 1,364.20.

Local brokers said that despite concerns about the Brussels attacks and fears of further reprisals in Europe from terrorist groups associated with the Islamic State, investors have yet to flock to the yen as a safe haven, which drives its value up versus its major counterparts and sees exporter issues dumped on bleak profit outlooks.

While saying the market may be becoming top-heavy on no clear near-term outlooks, market players here maintained that the latest terror-related incident has been factored in with market direction likely to return following the release of global economic indicators, such as Japan's key CPI data for Feb. scheduled to be released by the statistics bureau here on Friday.

By the close of play, notable decliners comprised machinery, mining, and wholesale-linked stocks, with the day's turnover totaling 1,739.9 billion yen (15.49 billion U.S. dollars). Enditem