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Tokyo stocks end slightly lower amid lack of fresh cues.

TOKYO, Sept. 4 Kyodo

Tokyo stocks ended slightly lower Tuesday in the absence of fresh trading incentives, although hopes for European Central Bank action to tackle the region's debt crisis lent support to the market.

After swinging between positive and negative territory, the 225-issue Nikkei Stock Average ended down 8.38 points, or 0.10 percent, from Monday at 8,775.51. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished down 1.94 points, or 0.27 percent, at 726.69.

Major decliners included the air transport, electricity and gas, and food sectors. Gainers were led by the rubber products, glass and ceramics, and nonferrous metals sectors.

Many investors retreated to the sidelines amid a lack of trading cues partly because U.S. markets were closed Monday for the Labor Day holiday, brokers said.

The market's downside was somewhat supported after ECB President Mario Draghi suggested overnight that the bank will buy short-term bonds of financially troubled eurozone countries such as Spain, lifting hopes that further details of the bank's bond-purchasing program will be decided at its policy-setting meeting on Thursday, they said.
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Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:Sep 4, 2012
Words:190
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