(Adds quote in third paragraph.)
Oct. 26 (Bloomberg) -- The value of shares traded on the Tokyo Stock Exchange’s first section fell below 1 trillion yen ($13.2 billion) for an eighth day.
The streak is the longest below that level since January 2004, according to Hiromi Nakahara at the exchange’s information section. So-called turnover for Japanese stocks fell to 922.1 billion yen today and reached 775.6 billion on Oct. 21, the lowest since December 2010, based on data tracked by Bloomberg.
“It indicates a lack of interest,” said Edwin Merner, the Tokyo-based president of Atlantis Investment, which oversees $3 billion. “People are just cautious. They want to keep cash and they don’t want to take risks.”
The Topix index fell for a second day, losing 0.2 percent to 746.48, as investors awaited the results of a European summit tomorrow where leaders are expected to decide on details of the region’s bailout fund. The Japanese equity benchmark has slumped 17 percent this year.
--With assistance from Lynn Thomasson in Hong Kong. Editor: Nick Gentle
To contact the reporters on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org; Toshiro Hasegawa in Tokyo at email@example.com.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org