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BCN-02
STOCKS-MARKETS-JAPAN-CLOSE
Tokyo stocks close down after falls in US
TOKYO, Dec 3, 2019 (BSS/AFP) – Tokyo stocks closed lower on Tuesday as
investors locked in profits following declines in American shares, which came
under pressure from weak US data and trade worries.
The benchmark Nikkei 225 index fell 0.64 percent, or 149.69 points, to
23,379.81, while the broader Topix index was down 0.45 percent, or 7.76
points, at 1,706.73.
Shares on Wall Street had dropped overnight after the Institute for Supply
Management reported a fourth straight monthly decline in manufacturing sector
activity.
Before Asian trade, US President Donald Trump announced he would reinstate
tariffs on steel and aluminium from Argentina and Brazil, accusing the South
American countries of “presiding over a massive devaluation of their
currencies” which he said hurt US farmers.
The comments added to worries about the US-China trade war, analysts said.
“Such negative elements gave investors an excuse to lock in profits,”
IwaiCosmo Securities broker Toshikazu Horiuchi told AFP.
The dollar fetched 109.16 yen in Asian afternoon trade, against 108.96 yen
in New York.
In Tokyo, exporters were lower, with Nissan falling 1.46 percent to 678.2
yen and Toyota losing 0.25 percent to 7,718 yen.
Market heavyweight SoftBank Group dropped 1.20 percent to 4,185 yen with
Uniqlo casual wear operator Fast Retailing down 0.88 percent at 67,200 yen.
BSS/AFP/SSS/1525 hrs