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STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open lower with yen edging higher
TOKYO, Sept 10, 2018 (BSS/AFP) – Tokyo stocks opened fractionally lower on
Monday, extending falls on Wall Street last week as a higher yen weighed on
the market with concerns lingering over trade issues.
The benchmark Nikkei 225 index slipped 0.04 percent or 9.39 points to
22,297.67 in early trade, while the broader Topix index was down 0.11 percent
or 1.79 points at 1,682.52.
The dollar fetched 110.99 yen in early Asian trade, down from 111.02 yen
in New York late Friday, when world equities stumbled on worries over the US-
China trade war after a threat of fresh tariffs by President Donald Trump.
“Tokyo shares are seen dominated by selling orders following falls in US
shares,” SBI Securities said in a commentary.
Noting that the yen was edging higher against the dollar and the euro, it
added that bargain-hunting buying may emerge later “on expectations for sound
corporate earnings.”
The Nikkei and Topix rebounded into positive territory several minutes
later.
Electronic parts maker Rohm was down 2.42 percent at 9,270 yen and chip
testing devices maker Advantest was down 1.71 percent at 2,404 yen.
Fast Retailing, the Uniqlo casual wear operator and market heavyweight,
was down 0.85 percent at 53,440 yen while Panasonic was down 0.43 percent at
1,268 yen.
Toyota was up 0.46 percent at 6,627 yen after it said it was preparing to
resume production at its quake-hit plant in Hokkaido.
In New York on Friday, the Dow ended down 0.3 percent at 25,916.54.
BSS/AFP/HR/0855