TOKYO (NQN)--Tokyo stocks fell into the red Tuesday despite a late rally, as market sentiment worsened on the back of falling Shanghai stocks and South Korea's interest rate hike.
The Nikkei Stock Average briefly slid to the upper-9,700 level immediately after the afternoon session opened. But a pause in the yen's appreciation against the dollar, as well as improved business sentiment in the U.S., prompted investors to buy on dips.
After that, however, the benchmark index sagged toward the close, ending the day at 9,797.10, down 30.41 points, or 0.31%, from the previous day.
Shares in Toyota Motor Corp. (7203), Komatsu Ltd. (6301) and Canon Inc. (7751) traded higher, as did Fast Retailing Co. (9983) and Seven & i Holdings Co. (3382).
Meanwhile, selling was seen for East Japan Railway Co. (9020), Tokyo Electric Power Co. (9501), KDDI Corp. (9433) and Nippon Telegraph and Telephone Corp. (9432), while Fanuc Ltd. (6954), Mitsubishi Estate Co. (8802) and Orix Corp. (8591) fell.
