TOKYO, Sept. 30 (Xinhua) -- Tokyo stocks closed lower Wednesday after Wall Street's drop overnight, with a feisty and at times chaotic clash between President Donald Trump and challenger Joe Biden in the first presidential debate sparking concerns over the future course of U.S. policy as well as uncertainty about a possible delay in the election outcome.
The 225-issue Nikkei Stock Average dropped 353.98 points, or 1.50 percent, from Tuesday to close the day at 23,185.12.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 32.61 points, or 1.97 percent, to finish at 1,625.49.
Trading got off to a nervous start, local brokers said, after Wall Street's negative overnight lead, with investors hitting the sidelines for the first of three presidential debates between Trump and Biden.
In the fiery and at times unruly debate, brokers here said that while Trump's performance was "as expected," Biden came across as the calmer of the two in the clash, making his policy points and criticisms of Trump's response to the coronavirus pandemic as well as prolonged issues of civil unrest while appealing directly to voters.
"That wasn't actually a debate. But Biden at least seemed to be calmer than Trump," Kazuo Kamitani, senior associate at the investment research and investor services department of Nomura Securities Co., was quoted as saying.
The pair also clashed over the economy and tax issues, Trump's personal tax issues, as well over the voting system of the upcoming Nov. 3 election, with Trump reiterating concerns over the possibility of fraud as record numbers of voters are expected to vote by post due to fears of the coronavirus pandemic.
"Uncertainty about the U.S. election has actually increased," Daiju Aoki, regional chief investment officer for Japan at UBS Securities, noted while Yutaka Miura, senior technical analyst at Mizuho Securities Co. said that there could be turbulence ahead as, "What markets dislike the most is having an indecisive election result."
Shares extended losses in the afternoon, local brokers said, with declining oil prices also dampening sentiment and hurting energy-oriented and exporter issues.
By the close of play, bank, securities house and air transportation-linked issues comprised those that declined the most.
Among energy issues retreating, Japan Petroleum Exploration dropped 3.0 percent, while exploration giant Inpex sank 2.7 percent. ENEOS Holdings, meanwhile, ended the day 2.5 percent lower.
NTT Docomo Inc. was a notable winner again, surging 20.9 percent, while SoftBank Group Corp. added 0.5 percent.
NTT Corp. the previous day announced its decision to acquire 100 percent ownership of its mobile carrier business NTT Docomo Inc. through a 4.25 trillion yen (40.21 billion U.S. dollars) tender offer.
Through the tender offer -- the largest-ever takeover bid in Japan -- NTT, which holds a 66.21 percent stake in NTT Docomo Inc., said it will acquire the remaining stocks from individual holders, financial institutions and other shareholders.
On completion of the tender offer, NTT Docomo will be delisted from the First Section of the Tokyo Stock Exchange.
The move will allow NTT Corp. to net 100 percent of Docomo's profits, the largest mobile carrier in Japan which boasts around 80 million subscribers.
NTT said the move is aimed at enhancing its competitiveness in 5G and other next-generation communications networks, with the acquisition coming as Japanese Prime Minister Yoshihide Suga is pushing for lower smartphone service fees amid broader private and public sector digitalization initiatives.
Issues that fell outpaced those that rose by 1,892 to 253 on the First Section, while 31 ended the day unchanged.
On the main section on Wednesday, 1.442 billion shares changed hands, rising from Tuesday's volume of 1.140 billion shares.
The turnover on the third trading day of the week came to 2.909 trillion yen (27.531 billion U.S. dollars). Enditem
