TOKYO – Tokyo stocks opened lower today tracking falls on Wall Street, where rising bond yields renewed inflation concerns, with investors also focused on Chinese data due later in the day.
The benchmark Nikkei 225 index was down 0.81%, or 239.72 points, at 29,192.98 in early trade, while the broader Topix index slipped 0.91%, or 18.08 points, to 1,959.78.
“Japanese shares are seen starting with losses following a rout in the US market... with investor eyes on China’s manufacturing and non-manufacturing PMIs” due during morning trade, said Toshiyuki Kanayama, senior market analyst at Monex, in a note.
The dollar fetched ¥110.40 (RM4.15) in early Asian trade, against ¥110.38 in New York late yesterday after the greenback broke through the ¥110 barrier for the first time in a year.
In Tokyo, Mitsubishi UFJ Financial was down 2.50% at ¥600.1 after it warned it could face a US$300 million (RM1.25 billion) loss in its dealings with a US client.
The announcement comes after Japan’s Nomura and Switzerland’s Credit Suisse warned that they face significant losses after reports of their exposure to a US fund that sold billions in stocks last week.
Mitsubishi UFJ rival Sumitomo Mitsui Financial was also down 2.06% at ¥4,045.
Renesas Electronics was down 1.91% at ¥1,179 after it said it could take three to four months to fully recover from a fire at one of its plants that threatens to worsen a global semiconductor shortage plaguing automakers.
Among other shares, Sony was up 1.39% at ¥11,655 and Toyota was up 2.31% at ¥8,555.
On Wall Street, the Dow ended down 0.3% at 33,066.96. – AFP, March 31, 2021
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