TOKYO, June 14, 2019 (BSS/AFP) – Tokyo stocks opened lower on Friday
despite rallies on Wall Street as geopolitical concerns weighed on the market
after suspected attacks on two oil tankers in the Gulf of Oman.
The benchmark Nikkei 225 index was down 0.08 percent or 16.74 points at
21,015.26 in early trade, while the broader Topix index was down 0.17 percent
or 2.59 points at 1,538.91.
Suspected attacks left two tankers — operated by Japanese and Norwegian
firms — ablaze in the waters of the Gulf of Oman on Thursday, sparking fears
of a broader conflict and sending world oil prices soaring.
Gains in petroleum-linked shares lifted Wall Street following the attacks.
The dollar remained under pressure, changing hands at 108.28 yen in early
Asian trade, against 108.38 yen in New York and 108.35 yen in Tokyo, as US
bond yields slipped temporarily.
“Despite rallies on Wall Street, Japanese shares are seen weighed on by a
higher yen,” Yoshihiro Ito, chief strategist at Okasan Online Securities,
said in a commentary.
The Nikkei index rebounded into positive territory in late morning trade.
In Tokyo, oil-linked shares were higher with Japan Petroleum Exploration
up 0.91 percent at 2,310 yen and oil developer and wholesaler JXTG up 1.04
percent at 511.5 yen.
However shipping firms were lower, with Mitsui O.S.K. Lines trading down
1.64 percent at 2,331 yen and Nippon Yusen down 2.66 percent at 1,573 yen.
On Wall Street, the Dow ended up 0.4 percent at 26,106.77.