Tokyo: Stocks close lower

TOKYO stocks closed lower on Thursday (Jun 30) after US stocks ended flat, with investors mulling new trading cues including comments by the US central bank chief.

The benchmark Nikkei 225 index closed down 1.5 per cent, or 411.56 points, at 26,393.04, while the broader Topix index ended down 1.2 per cent, or 22.75 points, at 1,870.82.

US Federal Reserve chair Jerome Powell’s “comments prompted worries over an economic slowdown”, said senior strategist Mitsuhiro Shibata of Daiwa Securities in a commentary.

Speaking on Wednesday at a European Central Bank forum in Portugal, US central bank chief Powell reiterated a commitment to raising rates, analysts pointed out.

The dollar fetched 136.22 yen in late Asian trade, against 136.66 yen in New York on Wednesday.

Automakers were lower, with Toyota losing 1.3 per cent to 2,100 yen, Honda falling 1.7 per cent to 3,293 yen, and Nissan ending down 3.8 per cent at 528.2 yen.

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SoftBank Group slipped 1.7 per cent to 5,235 yen, while Uniqlo operator Fast Retailing ended down 0.6 per cent at 71,080 yen.

Before the opening bell, the Japanese government said factory output in May fell 7.2 per cent from the previous month due to the impact of lockdowns in China. AFP