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STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open lower on caution before key diplomatic events
TOKYO, June 8, 2018 (BSS/AFP) – Tokyo stocks opened lower Friday afer a
string of gains this week, with investors seeming cautious ahead of
potentially contentious G7 talks and a historic US-North Korea summit.
The benchmark Nikkei 225 index, which has closed up for four consecutive
days, slipped 0.07 percent or 15.34 points to 22,807.92 in early trade while
the broader Topix index was down 0.22 percent or 3.95 points at 1,785.06.
“Tokyo stocks will likely move narrowly after opening lower,” SBI
Securities in a commentary.
“A wait-and-see mood is likely to spread as it is difficult to take
positions actively as investors wait for the outcome of the G7 meeting in
Canada (this weekend) and the US-North Korea summit on Tuesday,” it said.
The dollar was trading at 109.72 yen against 109.73 yen in New York
Thursday afternoon.
Market players largely shrugged off Japanese data that confirmed the
world’s third largest economy slid into negative territory for the first time
in two years at the beginning of the year.
Honda climbed 0.48 percent to 3,553 yen after the Japanese carmaker
announced it would team up with US auto giant General Motors to develop next-
generation battery components for electric vehicles.
Toyota was down 0.34 percent to 7,501 yen and Nissan lost 0.45 percent to
1,098 yen.
Banks were also lower with Mitsubishi UFJ Financial down 0.64 percent at
677.9 yen.
BSS/AFP/HR/0944