Japan Stocks declined Tuesday in Tokyo as investors fears both of the U.S. and domestic economy.
The Nikkei 225 Stock Average fell 89.85 points, or 0.7%, to 13,824.72 following a 414.11 point rise on Monday. In the beginning of Tuesday trading, the average went upward encouraged by Standard& Poor's move to keep ratings on major U.S. bond insurers unchanged, but later in the day, it declined amid U.S. economic concern.
In the midst of the day, the Nikkei 225 went up to the 14,000 line for the first time since Jan. 15.
The Topix index of all the Tokyo Stock Exchange First Section issues fell 8.07 points, or 0.6%, to 1347.47.
Traders said the U.S. major economic data were to be released next week, so it seems that investors are waiting for these data to determine whether the Economy becomes well.
According to Yoshinori Nagano, senior strategist at Daiwa Asset Management, it seems that investors focused on the monoline news in the beginning of the trading, but the result didn't ease their concern over weakening real economy.
The trading volume reached 2.4819 trillion yen, or 2.0937 billion stocks. 1,369 issues declined, 291increased and 61 unchanged.
Amid the U.S. economic fear, Japan main issues like Toyota, Mitsui Sumitomo FG were sold. KDDI, one of Japanese cell phone company, plunged 5.5 percent to 615,00 yen on the news that Nomura Securities, a rating company, cut its rating to 2 from top 1 on a five-rank scale because of the fear of continuing price competition.
Meanwhile, Honda, Canon, Mitsubishi UFJ and Mizuho FG were faired well.
A trader said these days, there're not so many participants for the market. The volume was low and there is high volatility in the market. It seems that investors are wait-and-see for the suitable timing.