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BCN-09
STOCKS-JAPAN-CLOSE LEAD
Tokyo’s Nikkei index drops 2.67% amid global risk worries
TOKYO, Oct 23, 2018 (BSS/AFP) – Tokyo’s benchmark Nikkei index dropped 2.67
percent on Tuesday amid lingering worries over geopolitical risks and ahead
of the corporate earnings report season.
The Nikkei 225 index dropped 2.67 percent or 604.04 points to end at
22,010.78, while the broader Topix index lost 2.63 percent or 44.59 points to
1,650.72.
“Geopolitical risks linked to the EU and the Middle East dragged down share
prices, extending falls on New York’s Dow,” Okasan Online Securities said in
a commentary.
The falls in Tokyo came after another volatile day of trading on Wall
Street in which major indices extended losses, with the looming US
congressional elections also making for rough seas.
“Selling hit financial stocks in New York, dampening sentiment,” said
Mutsumi Kagawa, chief global strategist at Rakuten Securities.
“Caution has also risen due to recent rising volatility after New York
stocks powered to their highest-ever levels and the Nikkei hit its 27-year
high,” he said.
Market players are waiting for Japanese corporate results while watching US
earnings results coming out now, he said.
The dollar fetched 112.42 yen in Asian trade, against 112.81 yen in New
York.
In Tokyo, Sony was down 1.98 percent at 6,184 yen, telecom giant SoftBank
fell 2.92 percent to 9,157 yen and chip-making equipment manufacturer Tokyo
Electron plunged 3.33 percent to 14,800 yen.
In New York, the Dow ended down 0.5 percent at 25,317.61.
BSS/AFP/SR/1845 HRS