1st LD Writethru: Tokyo stocks close lower as U.S. shares' decline sours market mood
Xinhua,April 23, 2018 Adjust font size:
TOKYO, April 23 (Xinhua) -- Tokyo stocks closed lower on Monday as U.S. shares declining at the end of last week soured the market mood here.
The 225-issue Nikkei Stock Average lost 74.20 points, or 0.33 percent, from Friday to close the day at 22,088.04.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 0.34 point, or 0.02 percent, to finish at 1,750.79.
Market strategists here said some stocks drew buying in early trade on the back of the yen's retreat against the U.S. dollar, which gives issues with a brand exposure to foreign markets, like exporters, a boost as their profits are augmented when repatriated.
But Wall Street's weak tone late last week, on slumping semiconductor-linked stocks and declining demand for smartphones, which dragged down broader technology-related stocks, was inherited in Tokyo, they added.
Local brokers also said there was now concern for upcoming U.S. earnings, particularly from the high technology sector, which could have a knock-on effect here and drag their domestic counterparts down.
By the close of play, precision instrument, fishery and agriculture, and food-oriented issues comprised those that declined the most, and falling issues beat rising ones by 1,035 to 955 on the First Section, with 91 ending the day unchanged.
On the main section on Monday, 1,343.83 million shares changed hands, falling from Friday's volume of 1,424.99 million shares.
The turnover on the first trading day of the week came to 2,161.4 billion yen (20.03 billion U.S. dollars). Enditem