Tokyo stocks closed lower on worries over Italy, N. Korea

Tokyo stocks moved lower on Tuesday, dragged down by lingering uncertainty over the prospects for a US-North Korea summit and a political crisis in Italy which is heading for fresh elections.

The benchmark Nikkei 225 index lost 0.55 percent, or 122.66 points, to close at 22,358.43 while the broader Topix index was down 0.48 percent, or 8.57 points, at 1,761.85.

"A wait-and-see mood is likely to spread as Italian risk emerged on top of uncertainty over the prospects for the US-North Korea summit and concerns about US-China trade tensions," SBI Securities said in a commentary.

Italy was plunged into political chaos after the collapse of a bid by the anti-establishment Five Star Movement and the far-right League to form a government.

President Sergio Mattarella on Monday named a former IMF economist as caretaker prime minister to lead the country into new elections, possibly as soon as the autumn.

APP