1st LD Writethru: Tokyo stocks close down as firm yen weighs on market, investors secure profits

TOKYO, Jan. 17 (Xinhua) -- Tokyo stocks closed lower Wednesday as a firm yen against the U.S. dollar impacted exporter issues and prompted investors to secure profits.

The 225-issue Nikkei Stock Average dropped 83.47 points, or 0.35 percent, from Tuesday to close the day at 23,868.34.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 3.43 points, or 0.18 percent, to finish at 1,890.82.

Market strategists here said that the yen's continued firm tone against the U.S. dollar saw investors opting to take profits following Japanese shares' rapid advance and ahead of a possible correction.

Local brokers added that a lackluster performance overnight on Wall Street compounded a downbeat mood and saw investors adjusting their positions.

The market's downside, however, was supported by expectations for Japanese corporations to report solid earnings for the nine months through December starting next week.

Although losses were pared on hopes for earnings to some extent, investment analysts noted that resurfacing concerns about the Bank of Japan tapering its easing measures added to a circumspect mood.

Mining, oil and coal product, and iron and steel-related issues comprised those that declined the most by the close of play, and falling issues beat rising ones by 1,381 to 620 on the First Section, with 62 ending the day unchanged.

On the main section on Wednesday, 1,541.40 million shares changed hands, rising from Tuesday's volume of 1,318.17 million shares.

The turnover on the third trading day of the week came to 2,936.4 billion yen (26.51 billion U.S. dollars). Enditem