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Tokyo stocks drop for 3rd straight day on jitters ahead of central banks' meetings

Xinhua, April 27, 2016 Adjust font size:

Tokyo stocks closed lower Wednesday marking a three-day losing streak, as early gains were reversed as a jittery market awaits the outcomes of central banks' policy meetings in both Japan and the U.S.

The 225-issue Nikkei Stock Average ended down 62.79 points, or 0.36 percent, from Tuesday at 17,290.49.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, finished 7.39 points, or 0.53 percent, lower at 1,384.30.

Local brokers said that the yen's depreciation against the U.S dollar helped cap broader losses Wednesday with the Japanese currency comparatively low on hopes the Bank of Japan (BOJ) will opt to unroll further easing measures at the conclusion of its two-day policy board meeting which started today.

Notable decliners at the close of play comprised marine transportation, electric appliances, as well as iron and steel-linked stocks and the day's turnover was 2,263.0 billion yen (20.37 billion yen). Enditem