Tokyo stocks close lower on US falls

Shanghai markets
Shanghai markets
owngarden/getty

Tokyo stocks closed lower on Thursday with investors disheartened by falls in US tech shares, while the Bank of Japan's unchanged policy failed to support the market.

The benchmark Nikkei 225 index was down 0.67% at 23 319.37 at the close, while the broader Topix index ended down 0.36% at 1 638.40.

Japanese shares started in negative territory as tech giants took another hiding on Wall Street, which weighed on the market, analysts said.

In addition, "a higher yen against the dollar was disliked by investors who sold major shares", contributing to further falls, Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

The dollar fetched ¥104.99 in Asian trade, against ¥104.92 in New York and ¥105.34 in Tokyo late on Wednesday.

The Bank of Japan (BoJ) said it would maintain its ultra-loose monetary policy as the virus-hit economy gradually picks up, in line with market expectations.

BoJ governor Haruhiko Kuroda was due to speak after market close on Thursday, one day after new Prime Minister Yoshihide Suga took office and picked his cabinet.

In Tokyo, Hitachi closed down 0.62% at ¥3 682 after scrapping its multi-billion-pound nuclear plant project in the UK in face of the deteriorating investment environment.

Sony closed down 0.95% at ¥8 132 after it said its PlayStation 5 game console will launch in November with a price tag of $500 for the premium PS5, and $400 for a "digital edition" for games downloaded from the cloud.

Sony's rival Nintendo was down 1.42% at ¥58 980 after its president said the company plans to release new Switch games while extending the console's life cycle.

Among other shares, Honda was down 1.50% at ¥2 590 and Uniqlo casual wear operator Fast Retailing was off 1.28% at ¥64 670.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
15.17
(-0.34)
ZAR/GBP
20.26
(-0.17)
ZAR/EUR
18.06
(-0.25)
ZAR/AUD
11.16
(-0.28)
ZAR/JPY
0.15
(-0.46)
Gold
1811.70
(+0.20)
Silver
23.35
(+0.07)
Platinum
960.00
(+0.09)
Brent Crude
48.73
(+1.57)
Palladium
2359.66
(+2.07)
All Share
57911.11
(+0.29)
Top 40
53092.13
(+0.29)
Financial 15
11579.50
(-0.53)
Industrial 25
80043.67
(+0.26)
Resource 10
52879.57
(+0.52)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 339 votes
No, I did not.
51% - 799 votes
My landlord refused
28% - 434 votes
Vote