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Tokyo stocks close lower on profit taking

Updated

By Agence France-Presse

Tokyo stocks ended lower on Wednesday as investors locked in profits a day after the benchmark index rose 1.30 percent.

(AFP / MANILA BULLETIN)

(AFP / MANILA BULLETIN)

The benchmark Nikkei 225 index lost 0.27 percent or 60.08 points to close at 22,604.61, while the broader Topix index fell 0.45 percent or 7.59 points at 1,691.32.

The Japanese indices followed Wall Street to rise marginally at the open but quickly dropped back into negative territory.

The dollar fetched 111.53 yen in Asian trade, against 111.57 yen in New York late Tuesday.

In Tokyo, Sony was up 0.26 percent at 6,352 yen and game giant Nintendo rose 0.48 percent to 39,340.

Automakers were lower, with Toyota falling 0.58 percent to 6,661 yen and Honda dropping 1.79 percent to 3,117 yen.

Struggling electronics maker Pioneer plunged 9.30 percent to 117 yen after announcing it had secured up to 60 billion yen ($540 million) in funding from Hong Kong-based investment firm Baring Private Equity Asia.

Citizen Watch, which sponsors the Japanese top tennis player Naomi Osaka, who beat Serena Williams in the US Open, rallied for a second straight day, edging up 0.14 percent at 707 yen.

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