slowrollpoker|Tokyo stocks end sharply lower amid European political concerns

TOKYOslowrollpoker, June 17 (Xinhua) -- Tokyo stocks closed sharply lower on Monday amid selling over concerns over European political situations and a potential U.S. economic slowdown.

Japan's benchmark Nikkei stock indexslowrollpoker, the 225-issue Nikkei Stock Average, ended down 712.12 points, or 1.83 percent, from Friday to close the day at 38,102.44.

The decline marked the biggest one-day drop since April 25 when the index fell by 831.60 points.

The broader Topix index also ended lower, falling 46.60 points, or 1.70 percent, to 2,700.01, hitting its lowest level since April 26.

Market watchers here noted that the Dow Jones Industrial Average on Friday declined amid concerns over a U.S. economic slowdown and the rise of far-right parties in France.

The sharp drop in European stocks further weighed on Tokyo stocks, leading to significant selling in auto, machinery, and trading companies.

Analysts here noted that Bank of Japan Governor Kazuo Ueda's comments Friday following the monetary policy meeting also contributed to the market downturn.

Ueda mentioned that the scale of the BOJ's long-term government bond purchases would be reduced, which, combined with a stronger yen against the dollar, put additional pressure on the market.

On the Prime Market, declining issues outnumbered advancing ones by 1,264 to 336, with 46 issues remaining unchanged.■

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