| Tokyo shares close sharply lower |
TOKYO, July 27 (Xinhua) -- Tokyo stocks tumbled on Friday after overnight falls in U.S. shares, with both stock indexes ending over 2 percent lower.
The 225-issue Nikkei Stock Average dropped to an almost three-month low. It shed 418.28 points, or 2.36 percent, to 17,283.81, its lowest finish since May 1.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 37.47 points, or 2.16 percent, to 1,699.71, closing below the 1,700 line for the first time since May 18.
The sharp decline was also due to the Japanese yen's appreciation against other major currencies. The dollar's sharp fell to a three-month low to the upper 118 yen level on Thursday hurt Japanese export-oriented issues including automakers and high-tech issues.
The Dow Jones Industrial Average of 30 blue-chip issues on the New York market Thursday lost 311.50 points, or 2.26 percent, to finish at 13,473.57, its second-biggest point loss for the year.
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