Nikkei posts weekly decline amid election jitters

Japan’s Nikkei share average fell for a second week on Tuesday as investors weighed risks linked to local elections that could see the ruling Liberal Democratic Party lose its parliamentary majority.

The Nikkei ended down 0.6 percent at 37,913.92, posting a weekly loss of 2.7 percent.

The broader Topix index fell 0.7 percent to 2,618.32.

Naka Matsuzawa, chief macro economist at Nomura Securities, said investors were considering how such an outcome would affect the fiscal and monetary outlook.