Tokyo stocks close lower on profit-taking

TOKYO: Tokyo stocks closed lower Tuesday on profit-taking after a strong rally in the previous session with traders awaiting a Fed meeting this week.

The benchmark Nikkei 225 slid 0.43 percent or 126.18 points to end at 29,520.90, while the broader Topix index fell 0.64 percent or 13.05 points to 2,031.67.

"The Nikkei index fell on profit-taking, despite gains of US shares, after it surged the day before," Okasan Online Securities said.

Traders were eyeing the US Federal Reserve's policy decision on Wednesday, analysts added.

In Tokyo trading, Panasonic was down 1.01 percent to 1,368 yen while Olympus dropped 2.40 percent to 2,494 yen.

Airlines were higher after the Nikkei business daily reported that entry restrictions would be lifted for foreign students and short-term business travellers.

Japan Airlines jumped 1.95 percent to 2,505 yen and its rival ANA Holdings climbed 1.25 percent to 2,701.5 yen.

After market close, JAL forecast a net loss of 146 billion yen ($1.28 billion) for the current financial year, citing travel restrictions due to the pandemic.

Uniqlo operator Fast Retailing gained 0.36 percent to 78,990 yen while SoftBank Group lost 0.20 percent to 6,316 yen.

The dollar fetched 113.70 yen in Asian trade, little changed from 114.00 yen in New York late Monday.