TOKYO – Tokyo stocks today opened lower with investors disheartened by falls on Wall Street, as bitcoin plunges and worries surge over Fed policy changes.
The benchmark Nikkei 225 index was down 0.48%, or 134.79 points, at 27,909.66 in early trade, while the broader Topix index slipped 0.25%, or 4.82 points, to 1,890.42.
“Japanese shares are seen starting with declines on Wall Street falls, but bargain-hunting purchases may emerge after the Nikkei dipped below the 28,000 mark,” said Toshiyuki Kanayama, senior analyst at Monex, in a note.
Wall Street stocks finished modestly lower, with oil-related equities diving as Federal Reserve minutes showed the United States central bank inching closer to shifting monetary policy.
Bitcoin, meanwhile, shed a whopping 30% at one point after China signalled a new crackdown on the cryptocurrency.
The dollar fetched ¥109.27 (RM4.15) in early Asian trade against ¥109.21 in New York late yesterday.
In Tokyo, shares in SoftBank Group rallied 1.37% to ¥8,586 after reports said US investment fund BlackRock has doubled its stake in the Japanese company to 5.2%.
Toyota was down 0.33% at ¥8,670 and Uniqlo casual wear operator Fast Retailing was off 0.92% at ¥85,360, but Sony was up 0.67% at ¥10,490.
Takeda Pharmaceutical was up 0.16% at ¥3,774 after reports said Japanese authorities are likely this week to approve the use of the Moderna Covid-19 vaccine, which the firm will import.
But, Daiichi Sankyo was down 1.28% at ¥2,590 despite reports that the AstraZeneca vaccine it produces will also be approved by Japanese authorities.
On Wall Street, the Dow ended down 0.5% at 33,896.04. – AFP, May 20, 2021
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