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Nikkei falls as hedge funds take profits; Komatsu tumbles

Tuesday, 29 Oct 2013 | 2:12 AM ET

TOKYO, Oct 29 (Reuters) - Japanese stocks slid on Tuesday, hit by a sharp drop in Komatsu Ltd after the world's second-largest construction equipment maker issued a profit warning, dragging down other companies exposed to emerging markets. The market also was pressured by profit-taking as hedge funds booked profits ahead of their book-closing next month while more Japanese retail investors are cashing in gains ahead of a planned tax hike on capital gains in January. The benchmark Nikkei shed 0.5 percent to 14,325.98 points, while the broader Topix lost 0.4 percent to 1,193.50, with trading volume hitting a one-month high of 2.90 billion shares. Komatsu tumbled 8 percent.

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6301.T
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