Tokyo stocks close lower on weak earnings

29 Oct, 2021

TOKYO: Tokyo stocks closed lower on Thursday as some major shares were sold on weak earnings, with little impact from the Bank of Japan's decision to keep its policy unchanged.

The benchmark Nikkei 225 index closed down 0.96 percent or 278.15 points at 28,820.09 while the broader Topix index ended down 0.70 percent or 14.15 points at 1,999.66.

"Key indexes are down as some shares were sold heavily due to earnings reports" that were worse than market expectations, Daiwa Securities said.

Industrial robot manufacturer Fanuc dived 8.66 percent to 22,250 yen after it revised down its full-year profit forecast due to uncertainties linked to the global microchip shortage. IT firm Fujitsu sank 8.14 percent to 19,985 yen after its second-quarter earnings missed market estimates and the firm kept its forecasts below traders' expectations.

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