Tokyo Stocks Close Wednesday Lower
(MENAFN) Japanese equities closed lower Wednesday, extending a four-day losing streak, as investor sentiment soured over the looming threat of a partial U.S. government shutdown and widespread profit-taking.
The Nikkei 225, Japan’s key stock gauge, dropped 381.78 points, or 0.85%, to settle at 44,550.85, marking its fourth straight session of losses. The broader Topix index also declined, shedding 42.86 points, or 1.37%, to close at 3,094.74.
According to market analysts, investor caution deepened amid uncertainty surrounding the potential U.S. government shutdown. A disruption in U.S. federal operations could delay critical economic reports, leaving the Federal Reserve with insufficient data to guide decisions on future interest rate cuts.
Dealers noted that the absence of fresh market catalysts compounded the downturn. Investors also took the opportunity to lock in recent gains and reposition their portfolios as Japan entered the second half of its fiscal year.
Dealers noted that investor caution over a potential U.S. government shutdown drained market momentum, as the prospect of delayed economic data threatened to leave the Federal Reserve with limited guidance on future interest rate decisions.
The wave of selling came as market participants reassessed their positions amid a backdrop of global economic uncertainty.
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