Tokyo: Stocks close lower ahead of earnings
Add BT as a preferred source
[TOKYO] Tokyo stocks closed lower Tuesday on concerns over fresh lockdowns in Europe and the prospects for US stimulus, with many investors sticking to the sidelines ahead of corporate earnings.
The benchmark Nikkei 225 index fell 0.96 per cent, or 276.11 points, to 28,546.18 while the broader Topix index lost 0.75 per cent, or 14.00 points, to 1,848.00.
"The worsening situation in Europe discouraged investors from taking risks today," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.
European stock markets tumbled Monday amid worries about fresh lockdowns to contain the coronavirus pandemic.
Investors were also concerned about the prospect that the US stimulus could be watered down and not pass for several weeks.
"But the stimulus itself remains sizable and will be seen as a positive factor in the end," Mr Horiuchi told AFP.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Trading was sluggish as investors remained sidelined ahead of the country's corporate earnings season, brokers said.
AFP
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
