Tokyo stocks close lower ahead of earnings

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Tokyo

Tokyo stocks closed lower Tuesday on concerns over fresh lockdowns in Europe and the prospects for US stimulus, with many investors sticking to the sidelines ahead of corporate earnings. The benchmark Nikkei 225 index fell 0.96 percent, or 276.11 points, to 28,546.18 while the broader Topix index lost 0.75 percent, or 14.00 points, to 1,848.00.
“The worsening situation in Europe discouraged investors from taking risks today,” said Toshikazu Horiuchi, a broker at IwaiCosmo Securities. European stock markets tumbled Monday amid worries about fresh lockdowns to contain the coronavirus pandemic. Investors were also concerned about the prospect that the US stimulus could be watered down and not pass for several weeks.

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