Tokyo stocks close lower on falling hopes of Fed rate cut

TOKYO, July 8 (Xinhua) -- Tokyo stocks closed lower Monday, tracking declines late last week on Wall Street, as expectations the US Federal Reserve would cut its interest rate dropped owing to better-than-expected jobs data.


(File photo: AFP)

The 225-issue Nikkei Stock Average lost 212.03 points, or 0.98 percent, from Friday to close at 21,534.35.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 14.18 points, or 0.89 percent, to finish at 1,578.40.

Farm and fishery, pharmaceutical, and textile and apparel-linked issues comprised those that declined the most by the close of play.