TOKYO, Aug 6 (AFP): Tokyo stocks fell 1.05 per cent Wednesday after a sharp sell-off on Wall Street, with SoftBank shares dropping on a report that its US unit Sprint was abandoning plans to buy T-Mobile.
The Nikkei 225 index, declining for the fifth session, gave up another 160.52 points to close at 15,159.79, while the Topix index of all first-section shares fell 0.97 per cent, or 12.24 points, to 1,251.29.
US stocks fell sharply Tuesday in a sell-off analysts attributed to fears that Wall Street was in line for a correction and worries that the conflict in Ukraine could worsen.
The Dow Jones Industrial Average dropped 0.84 per cent, while the broad-based S&P 500 lost 0.97 per cent.
A stronger yen also helped push down the Nikkei, despite upbeat Japanese corporate earnings with Japan's top automakers booking fatter profits in their latest quarter.
Some feared that an April sales tax hike in Japan would take a bite out of firms' bottom lines.
"April-June was feared to be the troubling quarter due to the (April 1) consumption tax hike, but analysts' timid forecasts got grannied by the results," said CLSA equity strategist Nicholas Smith.
Tokyo stocks close down 1.05pc
FE Team | Published: August 07, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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