Tokyo stocks end lower after recent gains

TOKYO, Japan (AFP) — Tokyo stocks closed lower on Tuesday following recent gains fueled by optimism over the China-US trade talks, while analysts also said news of Indian air strikes in Pakistan-controlled Kashmir weighed on the market.

The benchmark Nikkei 225 index, slipped 0.37 percent, or 78.84 points, to 21,449.39 while the broader Topix index was down 0.23 percent, or 3.67 points, at 1,617.20.

Shares have enjoyed healthy buying of late, thanks to hopes that China and the US will eventually hammer out a deal to resolve their tariffs spat that has fanned uncertainty over the past year.

But dealers were unable to maintain their momentum and Online Okasan Securities said in a commentary that selling picked up “after reports of Indian air strikes”.

New Delhi later said an air strike had been carried out on a camp where militants were preparing an attack on India, almost two weeks after more than 40 Indian paramilitaries were killed in the region.

India had vowed to strike back after the bombing, which was claimed by a Pakistan-based militant group.

In Tokyo share trading, Sony fell 0.85 percent to 5,331 yen while Uniqlo clothing chain operator Fast Retailing lost 1.08 percent to 50,890 yen.

Industrial robot producer Fanuc Corp dropped 1.29 percent to 19,080 yen while Tokyo Electron was down 0.83 percent to 15,480 yen.

Automakers were higher with Toyota trading up 0.31 percent at 6,795 yen and Nissan 0.54 percent to 958 yen.

The dollar fetched 110.80 yen in Asian trade, down from 111.05 yen in New York on Monday.

© Agence France-Presse