Tokyo shares down 0.93 percent by break

Japanese shares fell on Tuesday as investors took profits on the previous week’s gains, while tumbling crude prices led to a selloff on oil-related stocks.

The 225-issue Nikkei Stock Average was down 172.00 points from last Friday to end the morning at 18,266.67, reported Xinhua news agency.

“Fundamentals are also affecting shares, with oil-related stocks dropping because of lower crude prices”.

But Asahi Kasei plunged 115.90 yen, or 12.6 percent, to 801.80 yen after the chemical firm said Wednesday its construction materials subsidiary improperly installed foundations at an apartment building in Yokohama, near Tokyo, and modified data in the installation report.

The Topix index dropped 0.4 per cent to 1,465.28 as of 9.01 am in Tokyo, with three shares falling for every two that rose.

China is the top global trader in goods and its manufactured items sell worldwide, so any drop off in its imports and exports is seen not only as a barometer of its own growth, but also the state of the global economy. Inpex Corp shares fell 3.4 percent while Japan Petroleum Exploration Co shares lost 3.2 percent.

“But taking into account the US data and other selling cues originating overseas, (Tokyo stocks) could yet lose strength in the afternoon as more foreign investors begin to trade”, Miura said.

The euro traded flat at $1.1363 and 136.18 yen against 136.38 yen in U.S. trade.