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Tokyo stocks end lower amid uncertainties over BOJ policy

TOKYO
2024-06-21 16:06

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TOKYO, June 21 (Xinhua) -- Tokyo stocks closed lower Friday amid uncertainties over the normalization of the Bank of Japan's monetary policy and the U.S. economy.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, saw slight declines after its three-day rise by ending down 36.55 points, or 0.09 percent, from Thursday to close the day at 38,596.47.

The broader Topix index, meanwhile, finished 0.85 points, or 0.03 percent, lower at 2,724.69.

Market watchers here noted that the Tokyo market lacked direction due to mixed performance in the overnight U.S. stock market, where the tech-heavy Nasdaq Composite Index fell due to reduced expectations of a rate cut, while the Dow Jones Industrial Average extended its gains for a third day.

In Tokyo, semiconductor-related stocks such as Advantest and Lasertec were weak. SoftBank Group also weighed on the market due to diminished expectations for share buybacks.

While concerns about the U.S. economy limited buying, there was also a wait-and-see attitude ahead of the release of minutes of the Bank of Japan's monetary policy meeting held last week.

On the Prime Market, decliners were led by electric machinery, chemicals and telecommunication issues.

Issues that declined outnumbered those that advanced by 919 to 672, and 55 remained unchanged.
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