Tokyo stocks close lower on geopolitical concerns

Source: Xinhua| 2017-08-10 17:01:02|Editor: Xiang Bo
Video PlayerClose

TOKYO, Aug. 10 (Xinhua) -- Tokyo stocks closed lower Thursday, with the Nikkei dropping to a two-and-a-half month low, owing to an adverse market mood due to rising tensions between the United States and the Democratic People's Republic of Korea (DPRK).

The 225-issue Nikkei Stock Average edged down 8.97 points, or 0.05 percent, from Wednesday to end the day at 19,729.74, marking its lowest closing level since May 31.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, inched 0.65 point, or 0.04 percent, lower to finish at 1,617.25.

Insurance, securities and bank-linked issues comprised those that declined the most by the close of play, and rising issues outpaced falling ones by 975 to 935 on the First Section.

Brokers here said that initial buying on dips became subdued in later trade as investor consternation rose on heightened geopolitical tensions in the region.

Traders here also said that buying was also limited as some investors opted to hit the sidelines ahead of a three-day weekend here and a lack of fresh trading cues as earnings season has reached its peak.

On the main section on Thursday, 1,964.13 million shares changed hands, dropping from Wednesday's volume of 2,066.31 million shares.

The turnover on the final trading day of the week in Japan came to 2,532.7 billion yen (23.04 billion U.S. dollars).