Tokyo stocks end mixed as Wall Street's retreat offsets hopes for BOJ measures

Source: Xinhua| 2017-10-31 16:13:43|Editor: liuxin
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TOKYO, Oct. 31 (Xinhua) -- Tokyo stocks ended mixed on Tuesday as Wall Street's negative overnight tone was the impetus for investors to sell, which was offset by prospects that the Bank of Japan may unroll more supportive measures for the market.

The 225-issue Nikkei Stock Average shed 0.06 point, or 0.00 percent, from Monday to close the day at 22,011.61.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 4.88 points, or 0.28 percent, to finish at 1,765.96.

Brokers here said that resurfacing political uncertainty in Washington following reports that investigators probing election issues had charged some of President Donald Trump's former aides, unsettled the market here.

They added that a soft lead from Wall Street overnight led to selling early on, compounded by profit taking on news that lawmakers in the United States may phase in corporate tax cuts.

Market strategists pointed out however that the market's downside was limited by hope for the Bank of Japan's (BOJ) purchases of exchange-traded funds to bolster the market.

The BOJ keeping its policy unchanged at the end of its two-day meeting was widely expected by markets here, although a lowering of the bank's inflation outlook may impact long-term positions local brokers said.

Bank, securities and rubber product-linked issues comprised those that declined the most by the close of play, and rising issues beat falling ones by 1,073 to 864, on the First section, with 94 ending the day unchanged.

On the main section on Tuesday, 1,888.01 million shares changed hands, dropping from Monday's volume of 2,371.58 million shares.

The turnover on the second trading day of the week came to 3,529.8 billion yen (31.19 billion U.S. dollars).

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