Nikkei closes lower on global growth concerns

Nikkei closed 1.06 percent lower Tuesday in Tokyo on global growth concerns folowing the latest downward revisions by the World Bank and the International Monetary Fund. The 225-issue Nikkei Stock Average closed down 93.71 points, or 1.06 percent, from Friday at 8,769.59. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 9.45 points, or 1.28 percent, to 727.68. Decliners included sea transport companies, utilities and paper makers, while real estate developers, drug makers and retailers posted gains. The turnover was about 1.0456 trillion yen (about 13.35 billion U.S. dollars).