Tokyo stocks fell for the first time in six trading days on Wednesday, with the Nikkei Stock Average sliding 55.50 points, or 0.55%, to end the day at 10,086.49.
The benchmark index dipped below 10,100 for the first time since March 14.
An executive at Anglo-Australian miner BHP Billiton Ltd. on Tuesday said that Chinese demand for iron ore will probably remain flat. Wall Street, meanwhile, closed lower overnight on concerns over a slowdown in the Chinese economy. This negative overseas sentiment hung over the Tokyo market, prompting investors to dump China-related stocks and cyclical issues to lock in gains.
According to Nikkei News, investors also sold financial stocks in response to a mid-afternoon report stating that the Securities and Exchange Surveillance Commission will urge the Financial Services Agency to impose a fine on Chuo Mitsui Asset Trust and Banking Co. for insider trading, in relation to a large-scale public offering.
