TOKYO, March 13, 2019 (BSS/AFP) – Tokyo stocks opened lower on Wednesday,
as profit-taking dominated with worries about business confidence receding on
benign US inflation data.
The benchmark Nikkei 225 index was down 0.34 percent or 73.82 points at
21,429.87 in early trade while the broader Topix index was down 0.28 percent
or 4.45 points at 1,601.03.
“Pressure on profit-taking is seen mounting following mixed US shares and
a rapid rise in the previous session” in Tokyo, Yoshihiro Ito, chief
strategist at Okasan Online Securities, said in a commentary.
The fall came despite a sense of relief that a halt in US rate hikes will
be extended after the latest US inflation data came in milder than expected.
The stock market appeared to shrug off the British parliament’s vote
against Prime Minister Theresa May’s Brexit deal.
The dollar fetched 111.35 yen in early Asian trade, against 111.32 yen in
New York.
In Tokyo, banks were among losers, with Mitsubishi UFJ Financial slipping
0.45 percent to 566.4 yen and Sumitomo Mitsui Financial down 0.35 percent at
3,892 yen.
Airlines were also lower with Japan Airlines down 0.42 percent at 3,965
yen and ANA Holdings down 0.86 percent at 4,011 yen.
Trading houses were lower, with Mitsubishi Corp down 0.53 percent at 3,153
yen and Itochu down 0.49 percent at 2,006 yen.
On Wall Street, the Dow ended down 0.3 percent at 25,562.83, while the
broader S&P gained 0.3 percent.