TOKYO – Tokyo stocks opened lower today with the market lacking fresh leads after a mixed close on Wall Street and as rising coronavirus infections worldwide continue to weigh.
The benchmark Nikkei 225 index was down 0.11%, or 30.16 points, at 26,266.70 in early trade, while the broader Topix index edged down 0.40%, or 7.11 points, to 1,760.56.
“Japanese shares are seen trading in a narrow range after a mixed US market, with a sense of overheating prevailing in the market” after rallies in previous sessions, said Toshiyuki Kanayama, senior market analyst at Monex.
“Concerns over a rise in the number of coronavirus infections at home and abroad are weighing on the market, while hopes for vaccine development that could lead to a normalisation of economic activities are seen supporting” the market, said Mizuho Securities.
The dollar fetched ¥104.35 (RM4.08) in early Asian trade, against ¥104.38 in London late yesterday.
In Tokyo, Toyota was down 0.97% at ¥7,279, Sony was off 0.56% at ¥9,755 and Sumitomo Mitsui Financial was down 0.44% at ¥3,190.
On Wall Street, the Dow finished 0.6% lower at 29,872.47 and the broad-based S&P 500 retrenched 0.2%. The tech-rich Nasdaq ended up 0.5%. – AFP, November 26, 2020
