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Tokyo Stocks Close Lower After Wall Street Sell-Off
 

Tokyo stocks closed lower Wednesday on Wall Street's weak tone set overnight following a rise in U.S. long-term government bond yields triggering heavy selling.

The 225-issue Nikkei Stock Average dropped 62.80 points, or 0.28 percent, from Tuesday to close the day at 22,215.32.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, ended 2.02 points, or 0.11 percent, lower at 1,767.73.

Tokyo stocks came under pressure from the get-go, local brokers here said, following Wall Street's sell-off overnight.

They added that investor consternation was inherited in Tokyo on concerns for the U.S. economy after a spike in 10-year U.S. Treasury yields.

In later trade, however, losses were trimmed here as financial issues including insurers advanced, market strategists said, adding that the market's downside was also supported by expectations the Bank of Japan (BOJ) would purchase exchange-traded funds (ETFs) to prop the market up.

Mining, oil and coal product, and machinery-oriented issues comprised those that declined the most by the close of play, and rising issues beat falling ones by 1,077 to 894 on the First Section, with 109 ending the day unchanged.

On the main section on Wednesday, 1,423.46 million shares changed hands, dropping from Tuesday's volume of 1,469.94 million shares.

The turnover on the third trading day of the week came to 2,467.9 billion yen (22.62 billion U.S. dollars).


(www.chinaview.cn 2018-04-26)
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