TOKYO, April 4, 2019 (BSS/AFP) – Tokyo stocks opened lower on Thursday as
investors locked in profits after recent gains.
The benchmark Nikkei 225 index slipped 0.16 percent or 34.75 points to
21,678.46 in early trade while the broader Topix index was down 0.20 percent
or 3.27 points at 1,618.50.
“Stocks had risen on hopes for progress in US-China trade talks and market
players are now taking profits,” said Makoto Sengoku, market analyst at Tokai
Tokyo Research Centre.
The yen had been dropping against the dollar in a positive move for
Japanese exporters but the downswing has now taken a breather, he added.
The dollar was trading at 111.40 yen against 111.48 yen in New York
Wednesday afternoon.
Shares in Nissan rose 0.54 percent to 943.4 yen after former chief Carlos
Ghosn was rearrested early Thursday on fresh financial misconduct
allegations.
“The fate of Mr Ghosn himself hardly moves the shares any longer,” Sengoku
told AFP. “Market attention has shifted to how Nissan will rehabilitate
itself from here,” he said.
Nissan stayed away from commenting specifically on Ghosn’s rearrest but
said “the company’s focus remains on addressing weaknesses in governance that
enabled this misconduct.”
Toyota was also up 0.47 percent at 6,760 yen while Sony was down 0.14
percent at 4,718 yen.