Tokyo stocks fall amid cautious market sentiment

TOKYO: Tokyo stocks closed lower on Tuesday due to cautious investor sentiment and position adjustments ahead of upcoming key events both at home and abroad.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed lower for the sixth consecutive trading day and fell 56.59 points, or 0.16 per cent, from Monday to close at 36,159.16.

Meanwhile, the broader Topix index fell 3.19 points, or 0.12 per cent, to 2,576.54, Xinhua news agency reported.

Market watchers here said investors adopted a largely wait-and-see attitude ahead of several key events scheduled for Wednesday, including the release of the US Consumer Price Index for August.

Some local analysts have predicted that stocks tend to fall in September and October ahead of the US presidential race due to uncertainty about the outcome.

Position adjustments by some investors were also seen as a reaction to events such as policy meetings to be held by the US and Japanese central banks next week.

In the top-tier prime market, declines were led by pharmaceutical, marine transportation and precision equipment issues.

Advancing issues slightly outnumbered declining ones, at 802 to 787, while 54 issues remained unchanged. (IANS)