ZCZC
BCN-07
STOCKS-JAPAN-OPEN-MARKETS
Tokyo stocks open lower with lack of fresh headlines
TOKYO, Jan 16, 2019 (BSS/AFP) – Tokyo stocks opened slightly lower on
Wednesday, with the currency market stable in Asian trade after the British
pound fluctuated before and after the Brexit deal vote.
The benchmark Nikkei 225 index slipped 0.19 percent or 38.39 points to
20,516.90 in early trade while the broader Topix index was down 0.23 percent
or 3.60 points at 1,539.12.
Investors appeared to have factored in the defeat in Britain’s parliament
for Prime Minister Theresa May’s Brexit deal, which was overwhelmingly
rejected by lawmakers.
The pound changed hands at $1.2849 in early Asian trade, against $1.2871
in New York, while the dollar fetched 108.58 yen against 108.72 yen in New
York and 108.69 yen in Tokyo on Tuesday.
“The pound is seeing some buyback as traders factored in the British
parliamentary vote” against a Brexit deal, said Rikiya Takebe, senior
strategist at Okasan Online Securities, in a note.
“As the Japanese market rallied in the previous session before the rise in
the US market, we are expecting trade in a narrow range today” in the Tokyo
market, Toshiyuki Kanayama, senior market analyst at Monex, said in a
commentary.
Analysts said investor sentiment remained positive but the market lacked
fresh headlines to boost share prices.
In Tokyo, automakers were among losers, with Honda off 1.27 percent at
3,178 yen, Toyota down 0.73 percent at 6,841 yen and Nissan down 0.69 percent
at 897.4 yen.
Sony was 1.41 percent lower at 5,370 yen and Hitachi was down 2.23 percent
at 3,503 yen.
BSS/AFP/HR/09