Tokyo stocks close lower amid concerns tax hike to hurt earnings outlooks

TOKYO, July 22 (Xinhua) -- Tokyo stocks closed lower Monday, tracking declines on Wall Street and amid concerns about corporate earnings outlooks ahead of October's consumption tax hike from 8 percent to 10 percent.

The 225-issue Nikkei Stock Average dropped 50.20 points, or 0.23 percent, from Friday to close the day at 21,416.79.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 7.59 points, or 0.49 percent, to finish at 1,556.37.

Food, farm and fishery, and real estate-oriented issues comprised those that declined the most by the close of play.