Nov. 15 (Bloomberg) -- Turnover on the Tokyo Stock Exchange fell to its lowest level this year as Europe’s debt crisis caused Italy and Spain’s government-bond yields to surge, deterring investors.
The total value of all transactions on the first section of the TSE was 729 billion yen ($9.47 billion) today, the lowest level since Dec. 28, according to data compiled by Bloomberg. That compares with the daily average this year of 1.33 trillion yen. The number of shares traded also fell to its second-lowest level this year
“Long-term investors are taking a wait-and-see attitude amid uncertainties about the progress of financial reform in Italy and on the outlook of Europe’s economy,” said Kiyoshi Noda, a chief fund manager at Tokyo-based MU Investment Co.
Japan’s Nikkei 225 Stock Average declined 0.7 percent to 8,541.93 today, with the broader Topix index dropping 0.7 percent to 730.91.
--With assistance from Kana Nishizawa in Hong Kong. Editor:
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