TOKYO, Aug 7 — Tokyo’s benchmark Nikkei 225 index edged down this morning but trimmed initial losses and even briefly entered positive territory after two highly volatile days that saw global markets whipsaw.
The Nikkei dipped 0.05 per cent, or 116.69 points, to 34,658.77, having tumbled to 33,739.46 soon after the opening bell.
And the broader Topix index, which also opened in the red, rose 1.79 per cent, or 43.46 points, to 2,477.67.
Trade was jittery after the Nikkei surged 10 per cent yesterday, a day after tanking more than 12 per cent on concerns over the US economy and a stronger yen.
Wall Street stocks had a calmer session yesterday, although analysts warned that more turbulence could be in store for global markets.
The yen stood at 144.63 to the dollar in Tokyo, against 144.68 in New York.
But the Japanese currency was stronger than levels seen yesterday, when it hovered around 145.94.
“Tokyo shares trended lower in early trade, in reaction to the sharp rise (yesterday), while the yen gets stronger,” Monex said.
“The market will likely remain nervous about the direction of the dollar-yen,” the brokerage added.
Among major shares, Toyota lost 2.62 per cent to ¥2,452 and semiconductor test-maker Advantest fell 3.84 per cent to ¥5,902, but Nintendo edged up 0.03 per cent to 7,509. — AFP
