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Tokyo stocks open lower ahead of key G20 talks
TOKYO, June 28, 2019 (BSS/AFP) – Tokyo stocks opened lower Friday on
profit-taking ahead of key US-China trade talks at the Group of 20 summit.
The benchmark Nikkei 225 index was down 0.20 percent or 42.00 points at
21,296.17 in early trade, while the Topix index was down 0.12 percent or 1.81
points at 1,551.46.
“Wait-and-see attitude is growing further ahead of the G20 summit,” Okasan
Online Securities chief strategist Yoshihiro Ito said.
“Attentions are being paid to the US-China summit,” he added.
The two-day summit in the Japanese city of Osaka will be dominated by
trade issues, with all eyes on whether US President Donald Trump and Chinese
President Xi Jinping can reach a truce in a dispute that has been hugely
damaging for the world economy.
But world leaders will also be seeking to tamp down tensions between
Washington and Iran that have led to fears of a new conflict in the Middle
East.
The dollar fetched 107.65 yen in early Asian trade, against 107.78 yen in
New York.
In Tokyo some exporters were lower, with Canon slipping 0.72 percent to
3,149 yen, electronic components maker Kyocera sliding 0.75 percent to 6,965
yen and Nikon trading down 1.42 percent at 1,518 yen.
In May, Japan’s jobless rate stood at 2.4 percent, confirming the country’s
labour market remains tight, while factory output rose 2.3 percent month-on-
month, government data released minutes before the opening bell showed.
On Wall Street, the Dow ended down less than 0.1 percent at 26,526.58.
BSS/AFP/RY/08:05 hrs