Tokyo: Nikkei closes down nearly 1%

[TOKYO] Tokyo's benchmark Nikkei index lost nearly one per cent on Monday, tracking falls on Wall Street, as investors cashed in on last week's gains.

The Nikkei 225 index, which jumped more than 2.2 per cent the previous week, fell 0.98 per cent, or 212.03 points, to close at 21,534.35, while the broader Topix index was down 0.89 per cent, or 14.18 points, at 1,578.40.

"The Tokyo market took a negative lead from New York," said Shinichi Yamamoto, broker at Okasan Securities in Tokyo.

US stocks retreated from records and lost ground Friday as better-than-expected US job data clouded investors' hopes for steep cuts in interest rates in the world's biggest economy.

"Profit-taking also emerged following last week's gains," Mr Yamamoto told AFP.

AFP