At closing bell, the 225-issue Nikkei Stock Average fell 80.36 points, or 0.3%, to 26,467.08. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 1.94 points, or 0.11%, to 1,758.81.
Industrial robot producer Fanuc and optical equipment-maker Olympus were among major victims to profit-taking. Dentsu dropped for the fourth consecutive session, after the advertising giant warned that it would log a huge net loss for the second straight year. Other noticeable losers included automaker Suzuki and drugmaker Astellas. On the other hand, game-maker Nintendo and other stocks backed by stay-at-home demand rose. Also on the positive side were Sekisui House and beverage producer Asahi Group.
ECONOMIC NEWS: Japan GDP Surges 22.9% On Year In Q3- Japan's gross domestic product surged an annualized 22.9 percent in the third quarter of 2020, the Cabinet Office said on Tuesday, following the 28.8 percent plunge in the previous three months. On a quarterly basis, GDP was up 5.0 percent following the 8.2 percent decline in the three months prior. Capital expenditure was down 2.4 percent on quarter, exceeding expectations for a decline of 3.2 percent following the 4.5 percent fall in the second quarter. External demand was up 2.7 percent on quarter, following the 3.3 percent contraction in Q2. The price index was up 1.2 percent on year, following the 1.4 percent increase in the second quarter. Private consumption was up 5.1 percent on quarter, after sinking 8.1 percent in the previous three months.
Japan Posts Y2,144.7 Billion Current Account Surplus In October - Japan posted a current account surplus of 2,144.7 billion yen in October, the Ministry of Finance said on Tuesday, up 15.7 percent on year, following the 1,660.2 billion yen surplus in September. Exports were down 3.2 percent on year to 6,319.8 billion yen, while imports tumbled an annual 15.2 percent to 5,348.8 billion yen. The capital account was at 853.4 billion yen and the financial account came in at 860.5 billion yen.
Japan Eco Watchers' Current Conditions Index Eases In November - Japan current conditions index of the Economy Watchers' Survey, which measures the current situation of the economy, decreased to 45.6 in November from 54.5 in October, survey data from the Cabinet Office showed on Tuesday. However, a reading below 50 suggests pessimism. The outlook index that signals future activity declined to 36.5 in November from 49.1 in the previous month. The reading fell for the first time in four months.
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