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TOKYO, Jan. 6 (Xinhua) -- The Nikkei stock index retreated for a fourth straight trading day Tuesday Cheap Mikkel Boedker Jersey , tumbling 3.02 percent as ongoing political and currency concerns in Greece, rising prices for crude and the yen's strength combined to ensure investors remained risk averse and offloaded issues.
The Nikkei 225 dropped 525.52 points to finish at 16,883.19, marking its lowest close since December 17, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 39.95 points, or 2.85 percent Cheap Melker Karlsson Jersey , to close at 1,361.14.
Local traders said that market players here continued to dump issues as concerns that Greece might opt to leave the single- currency union in Europe with all eyes now on the upcoming election on Jan. 25 that might see the left-leaning Syriza party rise to power.
They added that falling oil prices were also contributing to the latest rout, which has seen major markets in the U.S. and Europe significantly lose ground recently.
Crude oil dropped below 50 U.S. dollars per barrel for the first time since the first quarter of 2009, owing to both Iraq and Russia stating they have raised their output to new record levels, meaning prices have dropped by almost half since last summer.
"Japanese stocks are following large declines in U.S. and Europe which were triggered by falling oil and Greek-related worries. We're in a risk-off mood and technical levels alone might not be enough to halt the decline," said strategist Hitoshi Asaoka from Mizuho Trust & Banking Co.
Brokers added that there would likely be no turnaround for the market ahead of the end of the week Cheap Kevin Labanc Jersey , following the release of key employment data from the U.S. on Friday, and, until then, the market here would largely mirror Wall Street's expected ongoing downturn.
"The next cue for a rally in U.S. stocks is the payrolls data on Friday. I expect shares