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Japan shares close lower after disappointing trade data
Tokyo Nikkei 225 down 0.85% at 38,617 points (Il Sole 24 Ore Radiocor) - Tokyo, 22 May - Japanese shares closed lower, extending yesterday's losses and leading the way south amid muted Asian markets.
Sentiment was subdued following disappointing trade data showing that Japan's exports grew less than expected in April as demand in key markets, particularly China, remained weak.
Imports also came in lower than expected on sluggish local demand.
The country posted a trade deficit of 462.506 billion yen compared with the deficit of 429.794 billion in the same month a year ago. Exports rose an annual 8.3% to 8.981 trillion yen. Imports also increased 8.3% to 9.443 trillion yen.
Investors awaited minutes of the US Federal Reserve's latest policy meeting later today.
The Nikkei index closed down 0.85% at 38,617 points after climbing on Monday above the 39,000-point mark for the first time in a month.
The benchmark index fell nearly 5% last month following a surge to an all-time high earlier this year.
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(RADIOCOR) 22-05-24 08:48:28 (0163) 5 NNNN