Tokyo stocks close lower as energy firms slip

The weak session followed losses on Wall Street and European markets, with tepid US inflation and consumer confidence data hurting sentiment.

Tokyo stocks close lower as energy firms slip

World Bulletin / News Desk

Tokyo shares closed lower Wednesday as a slip in oil prices hit energy companies, while automaker Toyota and some of Japan's biggest banks sank into negative territory.

"The global economy isn't bad but there's no impression that it'll get markedly better from here, and I expect it to remain fairly flat," Mitsushige Akino, an executive officer at Ichiyoshi Investment Management, told Bloomberg News.

Tokyo's benchmark Nikkei 225 index slipped 0.14 percent, or 27.28 points, to 19,650.57, its fourth straight day of losses. The Topix index of all first-section shares fell 0.27 percent, or 4.30 points, to 1,568.37.

European markets slid as Italy nears a deal for early elections and a fresh game of chicken over Greece's bailout keeps investors on edge.

The political uncertainty in Washington, with questions mounting over the Trump administration's contacts with Russia, is also a key concern.

"Investors are hoping to see (more) US data and see how US political developments will play out," Okasan Online Securities said in a commentary.

Japan Petroleum sank 1.50 percent to 2,230 yen while refiner JXTG Holdings dropped 1.79 percent to 482.4 yen

Toyota lost 0.81 percent to 5,932 yen, bank Mitsubishi UFJ Financial Group fell 0.80 percent to 690.9 yen and rival lender Sumitomo Mitsui Financial tumbled 1.82 percent to 3,974 yen.

But Uniqlo operator Fast Retailing, a market heavyweight, finished 0.35 percent higher at 37,100 yen.

Canon fell 0.39 percent to 3,780 yen just before it announced plans for a share buyback worth up to 50 billion yen.

The dollar rose to 110.98 yen from 110.76 yen in New York.

 

Last Mod: 31 Mayıs 2017, 10:10
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