UPDATE1: Tokyo stocks feel effects of Hong Kong protests

Japan Economic Newswire |

Tokyo stocks fell Thursday as investor sentiment was hurt by a drop in Hong Kong shares following clashes the previous day between police and demonstrators over legislation that would facilitate the extradition of criminals to China.

The 225-issue Nikkei Stock Average ended down 97.72 points, or 0.46 percent, from Wednesday at 21,032.00. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 12.72 points, or 0.82 percent, lower at 1,541.50.

Decliners were led by oil and coal product, marine transportation and securities house issues.

Tokyo shares were also affected by an overnight slide in Wall Street that led technology and banking issues lower.

The Hong Kong violence also pushed the U.S. dollar lower against the safe-haven yen, a cue for selling in Japanese exporter issues.

"The mass demonstration added to investor concern along with protracted trade disputes between the United States and China...and clouded market sentiment," said Maki Sawada, vice president of the investment research and investor services department at Nomura Securities Co.

On the First Section, declining issues outnumbered decliners 1,673 to 394, while 74 ended unchanged.

Shares with heavy exposure to Chinese markets lost ground.

Chip-testing device maker Advantest dropped 137 yen, or 5.0 percent, to 2,602 yen. Electrical components maker Taiyo Yuden tumbled 83 yen, or 4.4 percent, to 1,814 yen, while Yaskawa Electric fell 135 yen, or 3.9 percent, to 3,335 yen.

A sharp fall in crude oil prices overnight in New York weighed on energy issues.

Engineering firm JGC lost 52 yen, or 3.5 percent, to 1,430 yen. Oil refiner JXTG Holdings fell 15.70 yen, or 3.0 percent, to 506.20 yen, while peer Idemitsu Kosan shed 70 yen, or 2.3 percent, to 2,975 yen.

Trading volume on the main section rose to 1,174.85 million shares from Wednesday's 1,056.78 million.


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