The Tokyo Stock Exchange has been characterized by a negative tone in recent weeks amid concern over the continued volatility on Wall Street.

With no sign of a rebound in New York share prices, Tuesday's discount rate cut by the Bank of Japan, the first in nearly 51/2 years, has gone largely unheeded.

The downtrend in New York share prices has continued unabated of late and the technology-heavy Nasdaq composite index is now in almost the same position as it was at the start of the year. Against this backdrop, technology issues have also taken a beating on the Tokyo market.