Tokyo stocks close lower as investors opt for gains amid yen's rise

Source: Xinhua| 2017-08-08 16:12:54|Editor: Zhou Xin
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TOKYO, Aug. 8 (Xinhua) -- Tokyo stocks closed lower Tuesday as investors opted to lock in gains, while the yen's appreciation against the U.S. dollar sent exporter issues lower and weighed on the broader market.

The 225-issue Nikkei Stock Average dropped 59.88 points, or 0.30 percent, from Monday to close the day at 19,996.01.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, ended 3.95 points, or 0.24 percent, lower at 1,635.32.

Precision instruments, construction and pharmaceutical-linked issues led those that declined the most by the close of play, and falling issues outnumbered rising ones by 1,023 to 866 on the First Section.

Brokers here said that after the market's initial rise on the back of the Dow Jones Industrial Average closing at a fresh record high for the ninth straight day, the yen's rise saw investors opting to sell to secure profits.

Market players also said that there weren't decisive moves to be made today amid a lack of clear trading clues, with many investors choosing to hit the sidelines.

On the main section on Tuesday 1,652.36 million shares changed hands, rising from Monday's volume of 1,505.90 million shares.

The turnover on the second trading day of the week totaled 2,129.2 billion yen (19.25 billion yen).

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