Tokyo stocks fall in morning on weak U.S. economic data

Economy

Tokyo stocks sank Wednesday morning, with the benchmark Nikkei briefly dropping nearly 2 percent, as weaker-than-expected U.S. housing data for April cooled U.S. recovery optimism. The 225-issue Nikkei Stock Average shed 398.75 points, or 1.40 percent, from Tuesday to 28,008.09. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 13.60 points, or 0.71 percent, at 1,894.14. Decliners were led by pulp and paper, machinery, and oil and coal product issues.

Kyodo News

Kyodo News