Tokyo stocks close lower as investors opt for profits

Source: Xinhua| 2017-08-03 16:32:57|Editor: Song Lifang
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TOKYO, Aug. 3 (Xinhua) -- Tokyo stocks closed lower Thursday as investors opted to take profits following the market's recent gains, with investors largely unsurprised with the outcome of a cabinet reshuffle by Prime Minister Shinzo Abe.

The 225-issue Nikkei Stock Average lost 50.78 points, or 0.25 percent, from Wednesday to finish the day at 20,029.26.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, edged 0.56 point, or 0.03 percent, lower to close at 1,633.82.

Electric appliance, transportation equipment and bank-linked stocks comprised those that declined the most by the close of play, and rising issues just beat falling ones by 986 to 896 on the First Section.

Local brokers said the the yen's retreat against the U.S. dollar in the afternoon prompted some buying on dips, but investors were content to secure profits made following the market's recent advances.

Traders here also said that investors were largely disinterested in Abe's cabinet reshuffle with the new line-up holding no surprises.

On the main section on Thursday 1,680.63 million shares changed hands, dropping from Wednesday's volume of 1,718.45 million shares.

The turnover on the penultimate trading day of the week was 2,243.9 billion yen (20.28 billion U.S. dollars).

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