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STOCKS-JAPAN-OPEN-MARKET
Tokyo’s Nikkei 225 edges down at open with eyes on BoJ
TOKYO, April 25, 2019 (BSS/AFP) – Tokyo’s benchmark Nikkei 225 index
opened lower on Thursday as investors awaited the results of the Bank of
Japan’s two-day policy meeting to be announced during the day’s trade.
The Nikkei 225 index was down 0.11 percent or 23.98 points at 22,176.02 in
early trade, while the broader Topix index climbed just 0.01 percent or 0.15
points to 1,612.20.
The Nikkei soon rebounded back into positive territory but was up less
than one percent about 30 minutes after the opening bell.
“Trade today is seen moving only slightly as there are positive and
negative factors — US stocks slipped while the yen is cheaper” against the
dollar, Toshiyuki Kanayama, senior market analyst at Monex, said in a
commentary.
“The result of the Bank of Japan’s policy board meeting is due to be
announced at around noon, and the focus is how the Bank views inflation in
the future, even though the monetary policy will likely remain unchanged,” he
said.
The dollar fetched 112.22 yen in early Asian trade, little changed from
112.36 yen in New York but higher than 111.80 yen in late Tokyo time on
Wednesday.
In Tokyo, Hitachi was up 1.88 percent at 3,667 yen after reports said it
is planning to sell one of its core businesses Hitachi Chemical.
Nissan was down 1.33 percent at 892.8 yen after the scandal-hit automaker
issued a profit warning, downgrading its projection for net profit in the
year to March 2019 from 410 billion yen ($3.7 billion) to 319 billion yen.
Its rival Toyota was up 0.44 percent at 6,922 yen.
Game giant Nintendo was up 1.52 percent at 38,580 yen ahead of its
earnings report later on the day.
On Wall Street, the Dow ended down 0.2 percent at 26,597.05.
BSS/AFP/HR/0932