TOKYO, Jan 22, 2021 (BSS/AFP) – Tokyo stocks opened lower on Friday on
profit-taking, with a dearth of fresh market-moving factors following a rally
in the previous session.
The benchmark Nikkei 225 index was down 0.56 percent or 162.47 points at
28,594.39 in early trade, while the broader Topix index was down 0.58 percent
or 10.78 points at 1,849.86.
“The Japanese market lacks a sense of clear direction after big events such
as the US presidential inauguration and the Bank of Japan’s meeting,” said
Yoshihiro Ito of Okasan Online Securities.
“Profit-taking is seen weighing on the market,” offsetting hopes for fresh
US stimulus under newly installed President Joe Biden, Mizuho Securities
added.
The dollar fetched 103.54 yen in early Asian trade, against 103.50 yen in
New York.
Thursday’s Wall Street session was choppy after all three major indices
surged to records on Wednesday in anticipation of an improving economic
picture thanks to Biden’s stimulus plan and efforts to bolster the Covid-19
vaccine rollout.
The Nasdaq finished at a second straight record behind strength in Apple,
Facebook and other tech shares.
In Tokyo, Nissan was down 1.04 percent at 561.6 yen after reports said it
was partially pausing production at a UK factory due to virus-related supply
delays.
Its bigger rival Toyota was down 0.50 percent at 7,705 yen and Honda was
down 1.09 percent at 2,860.5 yen.
Panasonic surged 4.20 percent to 1,463 yen in its fifth straight session of
rallies, after it said Thursday it has developed a cool box for storing
coronavirus vaccines.
Advertising firm Dentsu was down 2.81 percent at 3,110 yen after a report
said Japan had internally concluded the postponed Tokyo Olympics needed to be
cancelled.
Japan’s core inflation, which excludes fresh food, was down 1.0 percent in
December, while the headline figure for 2020 was down 0.2 percent, according
to data released by the internal affairs ministry before the opening bell.