Tokyo shares end down ahead of CB decisions

TOKYO (AFP): Tokyo shares gave up early gains to close lower on Tuesday, with traders awaiting economic events worldwide including key central bank decisions.

The benchmark Nikkei 225 index lost 0.39 percent, or 106.29 points, to end at 27,327.11, while the broader Topix index fell 0.36 percent, or 7.13 points, to 1,975.27.

“With a number of important overseas events scheduled for this week, there was little aggressive trading activity,” IwaiCosmo Securities said.

On Monday, Wall Street kicked off an eventful week on a downcast note, with investors retreating in anticipation of several major central bank announcements, including a rate decision by the US Federal Reserve on Wednesday.

The European Central Bank is also scheduled to announce a monetary policy on Thursday.

The dollar fetched 130.20 yen, against 130.43 yen on Monday in New York.

Nissan jumped 2.07 percent to 463 yen a day after the Japanese automaker and its French partner Renault unveiled a deal rebalancing their decades-old alliance.

Renault will reduce its stake in Nissan from 43.4 percent to 15 percent, the same size as Nissan’s stake in Renault, in what the firms said would produce “a balanced governance”.

Uniqlo operator Fast Retailing slid 0.39 percent to 78,420 yen while SoftBank Group fell 0.32 percent to 6,144 yen.
Sony Group slipped 0.17 percent to 11,580 yen.