TOKYO, May 21 -- Tokyo stocks closed lower Tuesday after the market inherited a weak lead from Wall Street overnight, with rekindled concerns about the outlook for the global economy leading to a circumspect market mood.
The 225-issue Nikkei Stock Average lost 29.28 points, or 0.14 percent, from Monday to close the day at 21,272.45. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 4.62 points, or 0.30 percent, to finish at 1,550.30. The market mood was negative from the get-go local brokers said, after inheriting a negative tone from Wall Street overnight as U.S. technology issues slid. Stocks continued to trade in negative territory, market strategists here said, as investor sentiment continued to be dented by concerns over the future course of the global economy, compounded more recently by the United States inflaming global trade issues. Buying gathered pace in the afternoon, however, as stocks here got a boost from a rise in Shanghai shares, but electronic makers and cyclical issues declining saw buying short lived, investment analysts said.
Cyclical issues including Screen Holdings closed in negative territory, with the semiconductor and electronics maker dropping 4.0 percent, while Murata Manufacturing lost 1.5 percent. Kyocera, meanwhile, closed the day 0.7 percent lower. By the close of play, marine transportation, mining, and electric appliance-oriented issues comprised those that declined the most, and issues that fell outpaced those that rose by 1,320 to 743 on the First Section, while 78 ended the day unchanged. On the main section on Tuesday, 1,254.55 million shares changed hands, rising from Monday's volume of 1,178.24 million shares. The turnover on the second trading day of the week came to 2,331.3 billion yen (21.16 billion U.S. dollars).