TOKYO, Feb 3 (AFP): Tokyo stocks fell 1.98 per cent Monday following a
tumble on Wall Street stoked by jitters over emerging markets and
disappointing earnings reports from several US firms.
The benchmark Nikkei-225 index lost 295.40 points to 14,619.13, while the Topix index of all first-section shares slipped 1.99 per cent, or 24.32 points, to 1,196.32.
Global markets have been in turmoil over worries about a capital flight from emerging markets as traders move into the dollar after the Federal Reserve further scaled back its stimulus programme.
In Tokyo, investors were booking profits as the weak yen helped boost earnings at many blue-chip Japanese firms with Toyota and electronics giant Sony due to report their financial results this week.
"Fundamentals aren't driving Japanese stocks lower-it's the fault of the weak overall investing environment," said Chibagin Asset Management general manager Yoshihiro Okumura.
Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, told Dow Jones Newswires that the Nikkei's recent tumble meant "technical 'buy' signals are increasing, and strong solid market support should be expected at the 14,500 level".
The benchmark Nikkei-225 index lost 295.40 points to 14,619.13, while the Topix index of all first-section shares slipped 1.99 per cent, or 24.32 points, to 1,196.32.
Global markets have been in turmoil over worries about a capital flight from emerging markets as traders move into the dollar after the Federal Reserve further scaled back its stimulus programme.
In Tokyo, investors were booking profits as the weak yen helped boost earnings at many blue-chip Japanese firms with Toyota and electronics giant Sony due to report their financial results this week.
"Fundamentals aren't driving Japanese stocks lower-it's the fault of the weak overall investing environment," said Chibagin Asset Management general manager Yoshihiro Okumura.
Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, told Dow Jones Newswires that the Nikkei's recent tumble meant "technical 'buy' signals are increasing, and strong solid market support should be expected at the 14,500 level".
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