TOKYO – Tokyo stocks opened lower today in cautious trade ahead of a long weekend, with continued worries about rising coronavirus cases.
The benchmark Nikkei 225 index was down 0.60%, or 152.94 points, at 25,481.40 in early trade, while the broader Topix index slipped 0.38%, or 6.50 points, to 1,719.91.
“Trade is seen dominated by a wait-and-see attitude ahead of three days of holidays, after modest gains in the US market,” said senior market analyst Toshiyuki Kanayama of Monex in a commentary.
Wall Street stocks snapped a two-session skid as optimism over revived US stimulus talks countered worries about higher Covid-19 cases.
But, the Dow Jones Industrial Average added just 0.2% at 29,483.23, after many bourses elsewhere in the world ended in negative territory on concerns about the disease.
The subdued trade in Tokyo comes a day after Japan’s prime minister said the country is on “maximum alert” after logging a record number of daily infections, though no immediate restrictions are planned.
Among the major shares here, Uniqlo casual wear operator Fast Retailing was down 3.37% at ¥81,280 (RM319.89), Sony was off 1.17% at ¥9,141, and chip-testing equipment manufacturer Advantest slipped 0.99% at ¥6,970.
The dollar fetched ¥103.79 in early Asian trade, against ¥103.72 in New York late yesterday.
Japan’s core consumer price index, which excludes fresh food, was down 0.7% year-on-year in October, according to data released by the Internal Affairs Ministry before the opening bell.
The figure is in line with market expectations. – AFP, November 20, 2020
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