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Tokyo Stocks Close Lower on Continued Geopolitical Concerns, GDP Data Adds Support-Aug 14
 

Tokyo stocks closed lower Monday with the benchmark Nikkei index dropping to more than a three-month low on lingering concerns about tensions on the Korean Peninsular.

The 225-issue Nikkei Stock Average lost 192.64 points, or 0.98 percent, from Thursday to finish the day at 19,537.10, marking its lowest close since May 2.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 18.19 points, or 1.12 percent, lower to close at 1,599.06.

Iron and steel, nonferrous metal and metal product-related issues comprised those that declined the most by the close of play, and falling issues outnumbered rising ones by 1,629 to 342 on the First Section.

Brokers here said that geopolitical concerns were preventing investors from taking bold positions and some were fleeing from riskier assets like stocks and into traditionally safe havens like the yen and gold.

Other traders here said in addition that the market's downside drew support from data showing Japan's solid economic growth.

Data from the Cabinet Office released just before the opening bell showed that Japan's economy expanded an annualized real 4.0 percent owing to increased private consumption and corporate capital expenditure.

On the main section on Monday, 1,959.11 million shares changed hands, dropping marginally from Thursday's volume of 1,964.13 million shares.

The turnover on the first trading day of the week was 2,573.1 billion yen (23.49 billion U.S. dollars).

Markets here were closed on Friday for a national holiday.


(www.chinaview.cn 2017-08-15)
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