Tokyo stocks end sharply lower on U.S. economy fears

TOKYO, Sept. 4 (Xinhua) — Tokyo stocks ended sharply lower on Wednesday, with the Nikkei index diving over 4 percent, as weaker-than-expected U.S. manufacturing data renewed fears of a U.S. economic slowdown.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 1,638.70 points, or 4.24 percent, from Tuesday at 37,047.61, its lowest level since Aug. 15 and the third-largest decline of the year.
The broader Topix index, meanwhile, finished 99.78 points, or 3.65 percent, lower at 2,633.49.
Market watchers here noted that a wide range of issues were sold from the outset, led by heavyweight technology issues including Tokyo Electron and Advantest that tracked overnight declines by their U.S. counterparts.
Meanwhile, the overnight release of weaker-than-expected Institute for Supply Management purchasing managers’ index (PMI) data for the U.S. manufacturing sector in August ignited concerns regarding a slowdown in the U.S. economy, making market participants more cautious about the upcoming U.S. services data and unemployment data later this week, analysts said. ■