Tokyo stocks close lower in cautious trade
- 20 Aug 2020
Tokyo stocks closed lower on Thursday as investors took to the sidelines with a lack of new market-moving events.
The benchmark Nikkei 225 index slipped 1.00 percent or 229.99 points to close at 22,880.62, while the broader Topix index ended down 0.90 percent or 14.53 points at 1,599.20.
Japanese shares were weighed down by falls on Wall Street, but some investors sought bargain-hunting purchases, Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.
"As there is no particular reason to sell, falls in the Nikkei are being seen as prompted by short-term speculative moves," he noted.
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The dollar fetched 106.09 yen in Asian trade, against 106.12 yen in New York late Wednesday.
In Tokyo, chip-linked shares were lower, with semiconductor-testing equipment maker Advantest dropping 3.59 percent to 5,100 yen and chip-making equipment manufacturer Tokyo Electron down 3.32 percent at 27,770 yen.
Among other major shares, Sony ended 2.01 percent lower at 8,354 yen and Toyota was down 1.54 percent at 7,084 yen.
But airlines ended higher, with ANA Holdings closing up 1.37 percent at 2,433 yen and Japan Airlines up 2.57 percent at 2,029 yen.
Agence France Presse