At closing bell, the 225-issue Nikkei Stock Average tumbled 221.59 points, or 0.75%, to 29,285.46. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 16.45 points, or 0.81%, to 2,018.77. Trading volume turnover on the main section stood at 1.2 billion shares worth 2.75 trillion yen.
Shares of export-oriented companies declined as yen's appreciation to upper 112 level against the greenback fuelled concerns that strong yen erodes Japanese companies' overseas profits when repatriated. Canon shed 1.6%, while Hitachi declined 1.3%. Mazda Motor sank 1.4%.
ECONOMIC NEWS: Japan Posts Y1,033.7 Billion Current Account Surplus In September- Japan posted a current account surplus of 1,033.7 billion yen in September, the Ministry of Finance said on Tuesday, down from 1,665.6 billion yen in August. Imports jumped 41.6% on year to 7.137 trillion yen, while exports gained an annual 16.1% to 6.907 trillion yen for a trade deficit of 229.9 billion yen. The capital account had a deficit of 187.7 billion yen in September and the financial account saw a surplus of 2,760.3 billion yen.
CURRENCY NEWS: The Japanese yen appreciated to upper-11 level against greenback on Tuesday. The Japanese yen traded at 112.82 per dollar, stronger than levels above 113.5 seen against the greenback yesterday.
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