Japanese stocks closed down 0.69 percent on Tuesday after the Wall Street plunged to the lowest level since late April 1997.

The benchmark Nikkei-225 index lost 50.43 points to 7,229.72. At one point during the morning the Nikkei dipped below a 26-year closing low of 7,162.90 registered last October 28.

The broader Topix index of all first-section shares lost 7.79 points, or 1.06 percent, to end at 726.80.

Declines were led by mining, oil and coal product, and trading house issues. Major gainers included air transport, securities and machinery issues.

The decline was apparently following sharp falls in US, European and most Asian equity markets Monday as investors remained jittery about global economic outlook.

On the First Section, declining issues outnumbered advancing ones 1,131 to 440, with 134 others remaining unchanged.

Financial shares were among the top losers, with Mitsubishi UFJ Financial Group losing 2 yen, or nearly 0.5 percent, to 421 yen, and volume leader Mizuho Financial Group falling 5 yen, or nearly 3 percent, to 176 yen.

Among the bright spot, Japan's largest brokerage and value leader Nomura Holdings, though, rose 17 yen, or nearly 4 percent, to 451 yen, on bargain hunting after falling for three trading days.

Trading volume on the main section came to 1,948.62 million shares, up from Monday's 1,701.51 million.

The TSE's Second Section index was down 9.73 points, or 0.55 percent, to 1,771.50 on a volume of 13.29 million shares. On the Osaka Securities Exchange, the near-term March Nikkei 225 index futures contract was down 40 points to 7,210.

(Xinhua News Agency March 3, 2009)