Tokyo stocks open lower on higher yen, falls in US shares

Tokyo, Aug 13 (AFP/APP):Tokyo stocks opened lower on Tuesday as a stronger yen and falls on Wall Street weighed on the market after three days of holidays.

The benchmark Nikkei 225 index was down 1.07 percent or 221.35 points at 20,463.47 in early trade while the broader Topix index fell 0.81 percent or 12.21 points to 1,491.63.

“Japanese shares are seen losing as investors are discouraged by falls in US shares and a stronger yen,” Yoshihiro Ito, Okasan Online Securities chief strategist, said in a commentary.

The dollar fetched 105.36 yen in early Asian trade, up slightly from 105.28 yen in New York late Monday, but down from 105.66 yen in Tokyo on Friday.

Falls in Tokyo shares were led by exporters, with game giant Nintendo dropping 2.23 percent to 38,560 yen, Panasonic trading down 1.95 percent at 818.4 yen and Sony off 1.17 percent at 5,903 yen.

Automakers were also among the losers, with Toyota trading down 1.40 percent at 6,241 yen, Honda off 2.61 percent at 2,475.4 yen and Nissan down 2.32 percent at 660 yen.
On Wall Street, the Dow ended down 1.5 percent at 25,896.44.

 

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