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Tokyo stocks end lower on election caution, stronger yen

0 Comment(s)Print E-mail Xinhua, October 25, 2024
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TOKYO, Oct. 25 (Xinhua) -- Tokyo stocks ended lower Friday as investors were wary of the political uncertainty regarding Japan's general election on Sunday, while exporters drew selling on a stronger yen.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 229.37 points, or 0.60 percent, from Thursday at 37,913.92.

The broader Topix index, meanwhile, finished 17.25 points, or 0.65 percent, lower at 2,618.32.

Stocks were sold throughout the day as a risk-off mood prevailed ahead of Japan's House of Representatives election on Sunday, with recent media reports suggesting that the ruling Liberal Democratic Party and its coalition partner could struggle to retain a majority in the powerful lower chamber, analysts said.

Meanwhile, the stronger yen also weighed on a wide range of export-oriented issues amid speculation that the Bank of Japan could send hawkish messages after its policy meeting next week, they added. Enditem

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