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Tokyo stocks closed sharply lower on Tuesday, with the Nikkei index falling more than 2 percent, influenced by selling amid political uncertainty in Japan after the junior coalition partner (Komeito Party) decided to end its alliance with the Liberal Democratic Party. According to the Kyodo News Agency, the Nikkei 225 index declined by 1,241.48 points, or 2.58 percent, compared to Friday, closing at 46,847.32 points. The broader Topix index also closed lower, dropping 63.60 points, or 1.99 percent, to 3,133.99 points. Japanese financial markets were closed on Monday for a public holiday. In the main stock market, shares of electrical appliances, non-ferrous metals, and securities were among the biggest losers.

Gold eased on Thursday from the record high hit the day before, pressured by profit-taking and a slight uptick in the dollar, although expectations of further US rate cuts and political uncertainty lent some support to prices. Spot gold was down 0.2% at $3,858.50 per ounce, after hitting an all-time high of $3,895.09 on Wednesday. US gold futures for December delivery fell 0.4% to $3,883.60. The dollar index was up 0.1% against its rivals, making gold more expensive for other currency holders. Elsewhere, spot silver slipped 0.5% to $47.07 per ounce, platinum fell 0.3% to $1,552.05, and palladium gained 1% to $1,256.93.