Mubasher: Stocks closed lower on the Tokyo Stock Exchange on Wednesday as oil prices dropped 4% on statement of Saudi oil minister.
Ali Al-Naimi said Tuesday producers will hopefully meet in March to negotiate an output freeze, but production cuts will not happen.
Nikkei dropped 0.9% to 15,915.79 points, its lowest in one week.
The broad TOPIX slid 0.5% to 12,84.53, and JPX-Nikkei 400 shed 0.6% to 11,625.38.
