Tokyo stocks retreat on U.S. chip drop, yen’s gain

TOKYO, Oct. 31 (Xinhua) — Tokyo stocks retreated on Thursday, tracking overnight drops of chip shares on Wall Street, while the yen’s appreciation against the U.S. dollar prompted selling.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, declined 196.14 points, or 0.5 percent, to close at 39,081.25.
The decrease followed a drop in U.S. semiconductor stocks, prompting sell-offs of Tokyo’s semiconductor sector shares.
Additionally, the yen’s brief appreciation against the dollar spurred increased selling by foreign investors in Nikkei futures, pushing the index to a wider loss of over 400 points at one point during the session.
Although the Bank of Japan decided to keep its policy rate unchanged at the monetary policy meeting ending on Thursday, the outcome had minimal impact on the stock market as it was widely expected.
The broader Tokyo Stock Price Index also fell, declining by 8.21 points, or 0.3 percent, to end at 2,695.51.
Of the listed stocks on the top-tier Prime Market, 1,136 declined, 458 advanced and 52 remained flat. ■