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Tokyo: Nikkei drops as falling oil prices sour mood, financials down

Tuesday, August 2, 2016 - 14:29

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[TOKYO] Japan's Nikkei share average fell for the first time in three days on Tuesday as sliding oil prices and a firm yen dented investors' confidence.

The Nikkei closed down 1.5 per cent at 16,391.45 points.

Banking shares succumbed to profit taking after two days of large gains, while crude's retreat weighed on commodity linked sub-indexes like the oil and coal and metal product sectors.

The broader Topix lost 1.6 per cent to 1,300.20 and the JPX-Nikkei Index 400 fell 1.7 per cent to 11,689.47.

The index for the Mothers start-up market benefited from the declines in other indexes, rising 2 per cent to 958.03.

REUTERS

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