Monday, October 7, 2013
Nikkei Ends Lower On Continuing U.S. Fiscal Issues
TOKYO (NQN)--Tokyo stocks continued lower for the fourth straight trading day Monday, with the Nikkei Stock Average slipping 170 points to end the day at 13,853.
The benchmark index ended below 13,860, the closing price recorded on Sept. 6, the last trading day before Tokyo was selected as the 2020 Summer Olympics venue.
The lack of progress over U.S. fiscal issues on Friday prompted stock selling. About 80% of the stocks listed on the first section of the Tokyo Stock Exchange declined, with utilities and property developers in particular falling significantly.
The trading value totaled about 1.81 trillion yen on a preliminary basis, the lowest since Sept. 12.