July 3, 2008

Tokyo Stocks Close Lower for 10 Consecutive Days

Tokyo stocks close lower for 10 consecutive days

TOKYO, July 2 (Xinhua) -- Tokyo stocks closed lower Wednesday for 10 straight trading days.

The 225-issue Nikkei Stock Average shrank 176.83 points, or 1. 31 percent, from Tuesday to 13,286.37.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange decreased 18.92 points, or 1.43 percent, to 1, 301.15.

On the First Section, declining issues outnumbered advancing ones 1,476 to 186, with 62 others finishing unchanged.

Trading volume on the main section rose to 2,012.23 million shares from Tuesday's 1,862.19 million shares.

Value leader Mizuho Financial Group lost 15,000 yen, or more than 3 percent, to 470,000 yen.

Volume leader Sumitomo Metal Industries, a producer of copper, nickel and gold, gained 16 yen, or more than 3 percent, to 485 yen in view of rises in gold futures in New York on Tuesday.

The TSE's Second Section index was down 26.30 points, or 0.92 percent, to 2,841.35 on a volume of 49.01 million shares.

On the Osaka Securities Exchange the near-term September Nikkei 225 index futures contract declined 170 points to 13,290.

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