ZCZC
BCN-03
STOCKS-JAPAN-OPEN
Tokyo stocks open lower in thin trade after US holiday
TOKYO, Feb 19, 2019 (BSS/AFP) – Tokyo stocks opened lower on Tuesday as
investors were seen taking a wait-and-see attitude after a holiday in the US
market with a lack of fresh clues for trading.
The benchmark Nikkei 225 index was down 0.12 percent or 25.75 points at
21,256.10 in early trade, while the broader Topix index was lower by 0.10
percent or 1.61 points at 1,600.35.
“Japanese shares are dominated by a wait-and-see attitude after the US
market closure” on Monday, Yoshihiro Ito, chief strategist at Okasan Online
Securities, said in a commentary.
Trade would likely be in a narrow range with investors watching the dollar-
yen exchange rate and the Chinese market, he said.
New York markets were shut for Presidents’ Day, and thin European trading
volumes reflected the absence of US investors on Monday.
Europe’s major stock markets ended a lacklustre session mostly steady,
consolidating last week’s bumper gains as investors saw reason for optimism
over trade talks.
The dollar fetched 110.54 yen in early Asian trade, against 110.59 yen in
London time.
In Tokyo, some electronics and engineering firms were lower, with Panasonic
slipping 0.91 percent to 1,032.5 yen, Sharp off 2.26 percent at 1,295 yen and
Hitachi down 0.79 percent at 3,484 yen.
China-linked shares were also lower after rallies in the previous session,
with construction machine maker Komatsu down 1.03 percent at 2,736 yen and
electronic parts maker Rohm down 2.31 percent at 7,590 yen.
BSS/AFP/MR/ 1059 hrs