TOKYO -- Japanese stocks led losses in Asia during intraday trading Tuesday, but closed only modestly lower, following Wall Street's market sell-off overnight amid worries about the possibility of a U.S. recession.
The fall in Japanese stocks is "quite disappointing," said Nicholas Smith, Japan equity strategist at CLSA. "Our big concern in Japan is that Japan is a highly geared play on global trade, and global trade looks rather bad."
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