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Tokyo stocks close lower on Wall Street sell-off, inter-Korean talks issues
Source: Xinhua   2018-05-16 17:48:27

TOKYO, May 16 (Xinhua) -- Tokyo stocks closed lower Wednesday following a sell-off on Wall Street overnight as the long-term U.S. government bond yield spiked to its highest level since 2011 and on concerns after a suspension of inter-Korean ministerial talks.

The 225-issue Nikkei Stock Average lost 100.79 points, or 0.44 percent, from Tuesday to close the day at 22,717.23.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 4.80 points, or 0.27 percent, lower to finish at 1,800.35.

Tokyo stocks became pressured in early trade after a sell-off on Wall Street overnight that saw the Dow Jones Industrial Average snap an eight-day winning streak as the long-term U.S. government bond yield rose sharply to hit a seven-year high, brokers here said.

The yen's depreciation against the U.S. dollar gave investors some breathing space, they noted, and helped lift exporters reliant on a weaker yen to boost profitability and competitiveness in oversees markets.

But despite the yen's fall trimming losses, the market became concerned following reports that inter-Korean talks had been suspended, which saw losses expanded, market analysts said.

Japan's economy contracting an annualized real 0.6 percent in the January-March quarter and marking the first decline in nine quarters, fell largely within market expectations, strategists here said, and had little bearing on the market.

By the close of play, mining, warehousing and harbor transportation service, and information and communication-linked issues comprised those that declined the most, and falling issues beat rising ones by 1,120 to 890 on the First Section, while 73 ended the day unchanged.

On the main section on Wednesday, 1,626.72 million shares changed hands, dropping from Tuesday's volume of 1,730.46 million shares.

The turnover on the third trading day of the week came to 2,602.8 billion yen (23.61 billion U.S. dollars).

Editor: Yamei
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Tokyo stocks close lower on Wall Street sell-off, inter-Korean talks issues

Source: Xinhua 2018-05-16 17:48:27
[Editor: huaxia]

TOKYO, May 16 (Xinhua) -- Tokyo stocks closed lower Wednesday following a sell-off on Wall Street overnight as the long-term U.S. government bond yield spiked to its highest level since 2011 and on concerns after a suspension of inter-Korean ministerial talks.

The 225-issue Nikkei Stock Average lost 100.79 points, or 0.44 percent, from Tuesday to close the day at 22,717.23.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 4.80 points, or 0.27 percent, lower to finish at 1,800.35.

Tokyo stocks became pressured in early trade after a sell-off on Wall Street overnight that saw the Dow Jones Industrial Average snap an eight-day winning streak as the long-term U.S. government bond yield rose sharply to hit a seven-year high, brokers here said.

The yen's depreciation against the U.S. dollar gave investors some breathing space, they noted, and helped lift exporters reliant on a weaker yen to boost profitability and competitiveness in oversees markets.

But despite the yen's fall trimming losses, the market became concerned following reports that inter-Korean talks had been suspended, which saw losses expanded, market analysts said.

Japan's economy contracting an annualized real 0.6 percent in the January-March quarter and marking the first decline in nine quarters, fell largely within market expectations, strategists here said, and had little bearing on the market.

By the close of play, mining, warehousing and harbor transportation service, and information and communication-linked issues comprised those that declined the most, and falling issues beat rising ones by 1,120 to 890 on the First Section, while 73 ended the day unchanged.

On the main section on Wednesday, 1,626.72 million shares changed hands, dropping from Tuesday's volume of 1,730.46 million shares.

The turnover on the third trading day of the week came to 2,602.8 billion yen (23.61 billion U.S. dollars).

[Editor: huaxia]
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