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  • Tokyo stocks closed lower Tuesday on profit-taking, as investors eyed a speech by the Federal Reserve chairman scheduled for this week. The benchmark Nikkei 225 index fell 0.86 percent or 255.33 points to end at 29,408.17, while the broader Topix index dipped 0.40 percent or 7.63 points to 1,894.85. Although US economic data show the world's top economy is on track for recovery, this is "not necessarily leading to a rise in yields", said Hideyuki Ishiguro, senior strategist at Daiwa Securities. "Market players seem to be factoring in" the sound recovery, he added. Investors are awaiting comments by Fed chief Jerome Powell due later this week for any clues to his stance on interest rates, Ishiguro said. The dollar fetched 106.82 yen in Asian trade, against 106.76 yen in New York late Monday. In Tokyo, shipping firms were among losers, with Nippon Yusen slipping 2.75 percent to 3,005 yen and Mitsui O.S.K. Lines dropping 3.59 percent to 3,220 yen. Airlines were also lower, with Japan Airlines closing down 3.48 percent at 2,465 yen and ANA Holdings ending down 2.13 percent at 2,521.5 yen. Japan's jobless rate stood at 2.9 percent in January, down 0.1 of a percentage point from the previous month and slightly better than market consensus of 3.0 percent. nf-kh/kaf/leg
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  • Tokyo stocks close lower on profit-taking
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