Tokyo stocks fall as gains locked in before earnings, election
Tokyo stocks dropped Wednesday morning as investors secured gains from the previous day's rally, with a cautious mood prevailing ahead of earnings reports from major Japanese firms and a general election later this week. The 225-issue Nikkei Stock Average shed 159.40 points, or 0.55 percent, from Tuesday to 28,946.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 8.56 points, or 0.42 percent, at 2,009.84. Decliners were led by marine transportation, nonferrous metal and electric appliance issues.