Tokyo stocks sag on weak U.S. economic data, Fed minutes awaited

Economy

Tokyo stocks sagged Wednesday as weaker-than-expected U.S. housing data for April cooled U.S. economic recovery optimism, while investors awaited the minutes of the Federal Reserve's last policy meeting due later in the day. The 225-issue Nikkei Stock Average ended down 362.39 points, or 1.28 percent, from Tuesday at 28,044.45. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 12.50 points, or 0.66 percent, lower at 1,895.24. Decliners were led by pulp and paper, machinery, and glass and ceramics product issues.

Kyodo News

Kyodo News