Please view the main text area of the page by skipping the main menu.

Tokyo stocks end lower on concerns over Chinese economy

TOKYO (Kyodo) -- Tokyo stocks fell Monday on concerns over the outlook for the Chinese economy ahead of the restart of trade talks between the United States and China this week.

The 225-issue Nikkei Stock Average ended down 71.38 points, or 0.32 percent, from Friday at 22,199.00. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 5.38 points, or 0.32 percent, lower at 1,692.15.

Decliners were led by nonferrous metal, warehousing and harbor transportation service, and metal product issues, and trading volume on the main section dwindled to 983.22 million shares from Friday's 1,116.29 million shares.

Tokyo shares were vulnerable to selling in thin trading, as market participants remained risk-averse ahead of two days of trade talks in Washington starting Wednesday between the world's two largest economies.

Concern over the impact on China of escalating trade friction with the United States drove a key Shanghai stock index to a 31-month low late last week.

Stocks moved in a narrow range in the afternoon as "many investors took to the sidelines amid a lack of fresh trading cues ahead of the resumption of U.S.-China trade negotiations," said Seiichi Suzuki, chief equity market analyst at the Tokai Tokyo Research Institute.

A slight rise in Shanghai equities in the morning bolstered the downside of Tokyo equities, but a wait-and-see mood widely prevailed ahead of the U.S. Federal Reserve's annual symposium in Jackson Hole, Wyoming, later this week, Suzuki added.

On the First Section, declining issues outnumbered advancers 1,550 to 482 with 71 ending the day unchanged.

Mitsui Mining and Smelting dropped 160 yen, or 4.9 percent, to 3,100 yen while Sumitomo Metal Mining lost 94 yen, or 2.5 percent, to 3,623 yen, as investors feared a possible slowdown in the Chinese economy would decrease demand for nonferrous metal products, brokers said.

Convenience store and shopping mall operator FamilyMart UNY Holdings tumbled 1,300 yen, or 11.3 percent, to 10,230 yen after trading house Itochu Corp. aid Friday it made the retailer a subsidiary through a tender offer.

Bucking the downward trend, Nintendo climbed 1,230 yen, or 3.5 percent, to 36,670 yen, rebounding from its plunge last week.

Also in The Mainichi

The Mainichi on social media