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Tokyo stocks close lower as Japan's record GDP plunge sparks concerns

Xinhua News,TOKYO
2020-08-17 16:03

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TOKYO, Aug. 17 (Xinhua) -- Tokyo stocks closed lower Monday amid concerns over the prospect for the Japanese economy following a record economic contraction in the April-June period as exports and private consumption slumped due to the effects of the global COVID-19 pandemic.

The 225-issue Nikkei Stock Average dropped 192.61 points, or 0.83 percent, from Friday to close the day at 23,096.75.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 13.56 points, or 0.84 percent, to finish at 1,609.82.

Precision instrument, service and land transportation issues comprised those that declined the most by the close of play.
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