Tokyo stocks close down on profit-taking

TOKYO: Tokyo stocks closed down on profit-taking Monday after last week's session ended with rallies, as investors eye global economic indicators due this week.

The benchmark Nikkei 225 index fell 0.99 percent, or 289.33 points, to 28,860.08, while the broader Topix index slipped 1.26 percent, or 24.46 points, to 1,922.98.

"It's natural for investors to lock in profits after last week's gain," Yoshihiro Okumura of Chibagin Asset Management told AFP.

On Friday, the Nikkei index jumped more than two percent on rises in US shares and a cheaper yen.

"Investors are taking a wait-and-see attitude ahead of key economic indicators, including US jobs data, due later this week," Okumura said.

"Trading is expected to remain range-bound for now as market players await fresh news," he added.

The dollar fetched 109.71 yen in Asian afternoon trade against 109.84 yen in New York late Friday.

Nissan dropped 2.56 percent to 539.1 yen after a report said the Japanese carmaker and Chinese-owned battery maker Envision AESC will invest more than 200 billion yen ($1.8 billion) in new battery plants for electric vehicles in Japan and Britain.

Its bigger rival Toyota fell 0.21 percent to 9,115 yen with Honda down 3.31 percent at 3,353 yen.

SoftBank Group lost 1.57 percent to 8,256 yen while Uniqlo casual wear operator Fast Retailing fell 0.73 percent to 89,170 yen.