"There's no outstanding catalyst to buy stocks"
- Fumiyuki Nakanishi, a strategist at Tokyo-based SMBC Friend Securities Co.
Japanese stocks dropped on Tuesday amid slow holiday trading. The Nikkei 225 lost 0.46%, or 38.78 points, to 8,440.56, while the broader Topix fell 0.30%, or 2.19, to 724.25.
"There's no outstanding catalyst to buy stocks," said Fumiyuki Nakanishi, a strategist at Tokyo-based SMBC Friend Securities Co.
"Trading energy plunged in the Tokyo market yesterday. Today [Tuesday] as well, we can't expect foreign investors to buy shares as the overseas markets are closed."
Japan's Cabinet Office is to announce month on month change in core machinery orders January 10. Orders dropped 6.9% percent in October, compared to September.
© Dukascopy Bank