Tokyo stocks close down on strong yen, financials weigh

Tokyo stocks closed lower Wednesday as a firm yen against the U.S. dollar dented investor sentiment compounded by financial sector issues taking a tumble and dragging the broader market down.

The 225-issue Nikkei Stock Average dropped 218.53 points, or 1.31 percent, from Tuesday to end the day at 16,465.40.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 18.45 points, or 1.37 percent, to close at 1,330.77.

Notable issues that lost ground by the close of play on Wednesday comprised securities house, insurance and banking-linked stocks and the day's turnover was 1,821.1 billion yen (18.10 billion U.S. dollars).

Source : XINHUA