Share prices closed broadly lower, pressured from the outset by falls in futures, with buyers sidelined due to continued poor investor sentiment.

The Nikkei 225 closed down 207.45 points at 15,347.00, off a low of 15, 256.09 points and a high of 15,525.62 points.

Activity remained subdued, with an estimated 370 mln shares changing hands.

Falling issues outnumbered rises 771 to 308, with 176 unchanged.

The Topix index closed down 7.64 at 1,205.33, while the Nikkei 300 index closed down 1.52 at 237.64.

In late trading, the March futures contract was down 120 at 15,290 in Osaka and down 170 at 15,290 on SIMEX.

Shares closed off their lows, buoyed on the downside by selective bargain-hunting which emerged after the Nikkei 225 index fell below 15,300 points on futures-led selling from the outset, brokers said.

"Bargain-hunting was very active at below 15,300 points." on the Nikkei 225 index, one broker said.

Even so, investors found it difficult to find any stocks which may lead a rebound.

"Buying was seen in the broader market, but with no leading sectors and stocks to pull share prices back up sharply," he added.

Investors remain cautious about active buying due to sustained concern about the possible re-emergence of sharp falls on Asian markets as well as worries over a deep correction on Wall Street.