Tokyo’s Key Nikkei Index Closes Lower

AFP/APP

Tokyo:Tokyo’s main stock index closed lower on Tuesday, in line with broad losses in Asia, as investors look ahead to the release of key US inflation data.

  The benchmark Nikkei 225 fell 0.11 percent, or 44.65 points, to 38,855.37, while the broader Topix index added 0.08 percent, or 2.14 points, to 2,768.50.

Investors sat on their hands owing to a lack of trading incentives with Wall Street closed Monday, analysts said.

“Investors are refraining from active trading as they are awaiting the US market to reopen after” a holiday, Daiwa Securities said.

“As long-term domestic bond yields are rising, some shares were sold,” it added.

The dollar stood at 156.68 yen, down slightly from 156.82 yen on Monday.

Global investors are keenly awaiting the release Friday of the US personal consumption expenditures index, the Federal Reserve’s preferred gauge of inflation, hoping for an idea about the central bank’s plans for interest rates.

Traders are also monitoring a two-day symposium hosted by the Bank of Japan that features a panel discussion including senior monetary policymakers from Japan and the United States.

Among major shares, SoftBank Group climbed 1.31 percent to 8,722 yen, Uniqlo operator and market heavyweight Fast Retailing edged up 0.15 percent to 40,890 yen, and energy developer Inpex added 1.09 percent to 2,414.5 yen.

But chip-testing equipment maker Advantest dropped 0.92 percent to 5,617 yen while drug maker Daiichi Sankyo lost 2.35 percent to 5,495 yen.ated about 600 kilometres (370 miles) from Port Moresby