Tokyo stocks lower

Tokyo stocks closed lower on Wednesday, in line with broad losses across Asia and on Wall Street, where investors cashed in following recent records and on concerns about a possible US government shutdown. The benchmark Nikkei 225 index, which finished at a 26-year high on Monday, slipped 0.35 percent or 83.47 points, to 23,868.34. The broader Topix index was down 0.18 percent, or 3.43 points, at 1,890.82.
"Investors were discouraged by the price moves in US stocks... The Dow rose past 26,000 for the first time ever but rapidly gave up gains," said Makoto Sengoku, market analyst at Tokai Tokyo Research Centre. Market players were "wary of a pause" after the recent record-setting advances, he told AFP, while a more than one percent fall in oil prices also hit US energy firms. US traders are on edge as lawmakers in Washington struggle to avert a crippling government shutdown, there is a sense of uncertainty that a deal to fund programmes will be met by the Friday deadline.
The dollar saw a slight recovery to 110.79 yen from 110.53 yen in New York and while the Japanese unit has made inroads in recent weeks Sengoku said there were no serious concerns about exporter earnings at current rates. But he added: "If the yen appreciates beyond 110 yen, it would spawn worries over corporate earnings." Nissan ended 0.43 percent lower at 1,149.5 yen with investors unmoved after its president Hiroto Saikawa said the carmaker aims to have electric vehicles account for more than half its sales in Japan and Europe by 2025. Banks were lower after recent gains, with Mitsubishi UFJ falling 0.94 percent to 880.9 yen and Sumitomo Mitsui Financial trading down 0.97 percent at 5,258 yen. Major exporters saw gains, though, with Toyota closing up 0.63 percent at 7,782 yen and Honda gaining 0.75 percent to 4,019 yen.