Tokyo stocks close sharply lower as investors seek safe havens after Spain terror attack

Source: Xinhua| 2017-08-18 16:34:53|Editor: ying
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TOKYO, Aug. 18 (Xinhua) -- Tokyo stocks closed sharply lower Friday, with the benchmark Nikkei stock index closing at a three-and-a-half month low, as a fatal terrorist attack in Barcelona, Spain, saw investors turn risk averse and opt for safe havens.

The 225-issue Nikkei Stock Average lost 232.22 points, or 1.18 percent, from Thursday to close the day at 19,470.41, marking its lowest close since early May.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 17.46 points, or 1.08 percent, to finish at 1,597.36.

With the exception of the marine transportation and food sector, all industry categories closed in negative territory, with iron and steel, insurance and nonferrous metal-linked stocks comprising the day's biggest decliners.

Falling issues outpaced advancing ones by 1,672 to 279 with 72 ending the day unchanged, on the First Section on Friday.

Local brokers said that investors here were involved in a global sell-off that was triggered by the deadly terror attack in Barcelona, Spain.

They said that it caused the yen to appreciate against a basket of other currencies as the yen is often used as a safe haven in times of economic or other turmoil.

Traders also said ongoing concerns about the future course of the administration of U.S. President Donald Trump and his ability to deliver promised policies, continued to weigh on the market too.

On the main section on Friday 1,671.73 million shares changed hands, rising from Thursday's volume of 1,436.19 million shares.

The turnover on the final trading day of the week totaled 2,122.3 billion yen (19.45 billion U.S. dollars).

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