Tokyo’s Nikkei index closes lower after US losses

Tokyo’s key Nikkei index closed lower on Thursday after Wall Street shares slumped as a major US retailer warned of a weak holiday season, AFP reported.
The benchmark Nikkei 225 index dipped 0.35 percent, or 97.73 points, to 27,930.57, but the broader Topix index edged up 0.15 percent, or 2.99 points, to end at 1,966.28.
US shares closed lower overnight as Target’s weak outlook for the holiday season sparked fresh concern about the retail industry.
The Dow Jones Industrial Average dipped 0.1 percent while the broad-based S&P 500 lost 0.8 percent. The tech-rich Nasdaq Composite Index fell 1.5 percent.
“Target is concerned about a weakening consumer and the big profit miss is a bad sign heading into the key holiday period,” said Edward Moya, senior market analyst at OANDA.
After a glum start triggered by US falls, trade in Tokyo was “mixed, as there were no fresh market-moving events”, Mizuho Securities said.
The dollar changed hands at 139.48 yen in Asian trade, down from 139.54 yen on Wednesday in New York.
Chip-related shares were lower, with semiconductor-making equipment manufacturer Tokyo Electron dropping 2.43 percent to 45,270 yen.
Chip-testing equipment maker Advantest tumbled 3.14 percent to 8,940 yen.
Industrial robot maker Fanuc lost 1.10 percent to 20,670 yen.
Fast Retailing was down 1.07 percent at 82,460 yen, while East Japan Railway ended up 2.93 percent at 7,858 yen.