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STOCKS-JAPAN-OPEN LEAD
Tokyo stocks open lower on slowdown fears
TOKYO, Jan 15, 2019 (BSS/AFP) – Tokyo stocks opened lower on Tuesday, weighed
by fears over a slowdown in the global economy following disappointing
Chinese trade data.
The benchmark Nikkei 225 index fell 0.55 percent or 112.83 points to
20,246.87 in early trade while the broader Topix index was down 0.54 percent
or 8.24 points at 1,521.49.
The Japanese markets were playing catch-up on Tuesday after a public
holiday the previous day.
“Concerns are growing over the Chinese and global slowdown,” Okasan Online
Securities said in a note.
“Risk appetite is also likely to remain low due to persistent caution ahead
of the earnings season starting in the United States this week and in Japan
later this month,” it said.
Chinese trade data on Monday, which showed drops in both exports and
imports, fuelled fears over the global slowdown and sent world stocks
slumping.
The yen was holding firm, dampening investor sentiment towards exporters.
The dollar bought 108.20 yen against 108.17 yen in New York on Monday
afternoon.
In individual stocks trade, Hitachi added 3.19 percent to 3,454 yen after
soaring 8.63 percent on Friday as risk-averse investors welcomed a report in
the Nikkei business daily that the company had decided to freeze its plan to
build a nuclear power plant in Britain.
IT investor SoftBank Group fell 2.37 percent to 7,515 yen, and Nissan
dropped 0.68 percent to 899.3 yen.
BSS/AFP/SR/1650 HRS