TOKYO, Sept 7 — Tokyo stocks opened lower today, tracking falls on Wall Street amid lingering worries over US rate hike plans.
The benchmark Nikkei 225 index was down 0.64 per cent, or 177.41 points, at 27,449.10 in early trade, while the broader Topix index was down 0.63 per cent, or 12.22 points, at 1,914.36.
“Japanese shares are under pressure as US stocks are still in an adjustment phase, with ongoing uncertainties” over US Treasury yields and plans by the Federal Reserve to raise interest rates, Okasan Online Securities said.
Wall Street stocks fell overnight, extending an equity downturn as worries about tightening central bank policy and Europe’s energy woes offset good US economic data.
The yen sank to a fresh 24-year low against the dollar, mainly due to the widening monetary policy gap between Japanese easing and the Fed’s hawkish stance.
In Asia, the dollar stood at ¥143.10 — strengthening further after hitting ¥142.98 in New York.
Among major shares in Tokyo, Sony Group was down 2.92 per cent at ¥10,460, Toyota was off 0.78 per cent at ¥2,032.5, and SoftBank Group was down 1.35 per cent at ¥5,405.
Publishing house Kadokawa was down 2.90 per cent, having plunged 5.42 per cent yesterday after reports said that prosecutors suspect the company was involved in a bribery scandal surrounding last year’s Tokyo Olympics. — AFP
