TOKYO (AFP): Tokyo stocks closed lower on Monday after three days of gains, as cautious investors watched developments in the FBI probe into alleged Russian meddling in the US election. The Nikkei 225 index slipped 0.49 percent, or 111.87 points, to 22,707.16. The broader Topix index fell 0.54 percent, or 9.66 points, to 1,786.87.
“Concerns over ‘Russiagate’ weighed on the market in late trade,” overwhelming a positive tone from progress in a US tax-cut bill and a cheaper yen against the dollar, SBI Securities said in a commentary. In an ominous turn for President Donald Trump, his former security advisor Michael Flynn on Friday admitted lying to the FBI and pledged to cooperate with a special prosecutor.
The Russia probe darkened what would otherwise have been a triumphant week for Trump as his key tax reform bill nears passage.
The dollar rose to 112.86 yen early Monday from 112.12 yen in New York Friday afternoon on the Senate’s passage of the most significant US tax overhaul in 31 years.
In stocks trade, Olympus dropped 4.66 percent to 4,390 yen and Hoya fell 1.75 percent to 5,431 yen after brokerages revised down their view on the firms. Game giant Nintendo lost 1.87 percent to 44,440 yen and Panasonic fell 1.24 percent to 1,629 yen.
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