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P.M. BRIEFING : Stocks Close Lower in Tokyo

From Times Wire Services

Stock prices on the Tokyo Stock Exchange closed lower for the first time in six trading sessions today under pressure from profit taking and some arbitrage selling.

The blue-chip Nikkei Average of 225 selected issues, which gained 397.73 points or 1.2% on Monday, fell 373.94 points to 32,817.67.

The broader-based Tokyo Stock Exchange Index of all listed major shares, a 14.11-point gainer Monday, lost 22.39 points to 2,411.66.

An estimated 800 million shares changed hands, compared with 765 million shares on Monday.

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Analysts said market participants became cautious over the recent rally in stock prices and sold selected issues for profit taking.


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