Nikkei 225 declined on higher risk-aversion

Source: Dukascopy Bank SA

Japanese shares closed lower on Tuesday as traders started to decrease their exposure to riskier assets head of the German Constitutional Court decision regarding the ESM due on Wednesday. Weakness of US equity markets as well as anticipation of the Fed meeting on Thursday pushed Japan's shares lower. Only one sector within the index gained. Consumer services added 0.14%. At the same time, oil and gas companies and industrials retreated from recent highs on global growth concerns. Inpex and JX Holdings lost 0.67% and 0.98% amid lower crude oil prices. Among industrials, Amada and IHI slid 2.51% and 1.14%. Meanwhile, technology shares remained bearish after Intel cut its profit forecast. Kyocera and NEC tumbled 0.94% and 0.87%. Lenders also followed bearish trend, with Aozora Bank, Fukuoka Financial Group and Mizuho Financial Group plunging 0.82%, 1.25% and 1.53%, respectively.

 

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