ZCZC
BCN-06
STOCKS-JAPAN-OPEN
Tokyo stocks open lower as global worries linger
TOKYO, Oct 23, 2018 (BSS/AFP) – Tokyo stocks opened lower on Tuesday in
nervous trade caused by lingering geopolitical risks, and ahead of the
corporate earnings report season.
The Nikkei 225 index was down 1.00 percent or 226.22 points at 22,388.60 in
early trade, while the broader Topix index was down 0.88 percent or 14.93
points at 1,680.38.
Falls in Tokyo came after another volatile day of trading on Wall Street
saw major indices extending losses, with the looming US congressional
elections also making for rough seas.
“Selling hit financial stocks in New York, dampening sentiment,” said
Mutsumi Kagawa, chief global strategist at Rakuten Securities.
“Caution has also risen due to recent rising volatility after New York
stocks powered to their highest-ever levels and the Nikkei hit its 27-year
high,” he said.
Market players are waiting for Japanese corporate results while watching US
earnings results coming out now, he said.
The dollar fetched 112.71 yen in early Asian trade, against 112.81 yen in
New York.
In Tokyo, Sony was down 0.70 percent at 6,265 yen, telecom giant SoftBank
was off 1.45 percent at 9,306 yen and chip-making equipment manufacturer
Tokyo Electron was down 1.53 percent at 15,075 yen.
In New York, the Dow ended down 0.5 percent at 25,317.61.
BSS/AFP/SR/1745 HRS