Tokyo stocks close lower on US falls

View of Mt. Fuji and Tokyo skyline at dusk.
View of Mt. Fuji and Tokyo skyline at dusk.

Tokyo stocks edged lower on Tuesday as bargain-hunting purchases failed to fully offset losses in early trade following a rout on Wall Street.

The benchmark Nikkei 225 index ended down 0.04%, or 8.54 points, at 23,485.80 while the broader Topix index was down 0.09%, or 1.45 points, at 1 617.53 at the close.

"The Japanese market is led by sell orders with investors discouraged by sharp falls in US shares," Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

"With a record number of new infections on October 23 in the US, worries are growing among investors" prompting position-adjustment selling, he said.

Some investors, however, sought to buy shares that had fallen, supporting the downside, he said in the afternoon.

The dollar fetched ¥104.69 in Asian trade, against ¥104.84 in New York late Monday.

In Tokyo, ANA Holdings dropped 3.17% to ¥2 290 ahead of its second quarter earnings report and details on restructuring plans.

After the closing bell, ANA said it forecasts a record annual loss of ¥510 billion ($4.87 billion) for the current financial year to March.

Its rival JAL plunged 4.27% to ¥1 949.

Nissan Motor was down 1.6% at ¥384.7 despite reports it will boost production in China by 30% next year.

Its rival Honda was down 1.74% at ¥2 540 while Toyota was down 0.41% at ¥6 961.

But Panasonic ended up 0.40% at ¥911.2 and Sony closed up 1.03% at ¥8 100.

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