TOKYO, Jan. 30 (Xinhua) -- Tokyo stocks closed lower Tuesday with the benchmark Nikkei stock index retreating for a fifth straight day as a negative lead from Wall Street overnight set the tone, with sentiment further dampened by reports that Apple Inc. will slash its production target for its iPhone X.
The 225-issue Nikkei Stock Average dropped 337.37 points, or 1.43 percent, from Monday to close the day at 23,291.97, marking its lowest closing level since Dec. 29.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 22.32 points, or 1.19 percent, to finish at 1,858.13.
Following U.S. shares' downward trend overnight, Tokyo stocks declined from the morning and extended losses in the afternoon, local brokers said.
News that Apple Inc. will lower its production target for its iPhone X owing to the possibility that sales of the new model will fall short of the tech-giant's expectations weighed on tech issues here, particularly those linked to the U.S. maker, market strategists here said.
They added that some investors were taking a wait-and-see approach ahead of Apple releasing its earnings for the fiscal first-quarter on Thursday.
Energy-related stocks also traded lower in Tokyo, equity analysts highlighted, due to a slump in crude oil prices overnight in New York.
By the close of play, mining, oil and coal product and electric appliance-oriented stocks comprised those that declined the most, and falling issues beat rising ones by 1,760 to 255, with 48 ending the day unchanged.
On the main section on Tuesday, 1,702.72 million shares changed hands, rising from Monday's volume of 1,326.28 million shares.
The turnover on the second trading day of the week came to 3,321 billion yen (30.51 billion U.S. dollars).
