(Update 2) Tokyo Stocks Drop amid Political Uncertainty

   Tokyo, Oct. 22 (Jiji Press)--Japan's benchmark Nikkei 225 stock average briefly fell more than 700 points on Tuesday, amid political uncertainties ahead of key elections in Japan and the United States.
   The Nikkei fell 542.64 points, or 1.39 pct, from Monday, to finish at 38,411.96, the lowest level in about three weeks.
   Investor sentiment was cooled by media reports that Japan's ruling Liberal Democratic Party-Komeito coalition may lose its majority in the House of Representatives in Sunday's general election.
   "Expectations for (rises in) defense-related issues were corrected due to speculation that the foundation of Prime Minister Shigeru Ishiba's administration could weaken," an official of an online securities firm said.
   Tokyo stocks were also weighed down by profit-taking after Wall Street retreated overnight after repeatedly hitting record highs in recent sessions.

(2024/10/22-16:59)