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"Investors are a bit fed up with politicians generally"
- Prasad Patkar, portfolio manager at Platypus Asset Management Ltd.
Japanese stocks closed mixed on Tuesday, after U.S. debt committee failed to reach a consensus on budget cuts. The Nikkei 225 decreased 0.40%, or 33.53 points, to 8,314.74, while the broader Topix gained 0.10%, or 0.71 points, to 717.79.
"Investors are a bit fed up with politicians generally," said Prasad Patkar, portfolio manager at Platypus Asset Management Ltd. in Sydney. "Politicians have been behind the curve all along, and I think the market is feeling uneasy about that."
"Valuations for Japanese stocks look cheap," said Koichi Kurose, chief economist in Tokyo at Resona Bank Ltd. "Any gains may not be sustained given prevailing concerns about Europe and the U.S. The yen's level has not been supportive of Japanese exporters."