Tokyo Stocks Open Lower

Tokyo, (UrduPoint / Pakistan Point News - 17th Nov, 2023) Tokyo stocks opened lower on Friday after the US Dow was weighed down by discouraging corporate forecasts.

The benchmark Nikkei 225 index was down 0.35 percent, or 118.14 points, to 33,306.27 in early trade, while the broader Topix index slipped 0.32 percent, or 7.69 points, to 2,360.93.

Investors in the Japanese market "dislike falls in the US Dow index, so trade will likely be dominated by sell orders", Mizuho Securities said.

Toshiyuki Kanayama at brokerage Monex added: "A wait-and-see attitude will likely dominate trade ahead of a weekend."

The Dollar fetched 150.65 Yen in early Asian trade, against 150.76 yen in New York late Thursday.

Overnight, Wall Street finished mixed after a meandering day, with the Dow weighed down by big drops in retailer Walmart and technology titan Cisco Systems.

The Dow ended down 0.1 percent at 34,945.47, while the broad-based S&P 500 added 0.1 percent and the tech-rich Nasdaq climbed 0.1 percent.

Among major shares in Tokyo, Toyota was down 1.30 percent at 2,841.5 yen, Sony Group was off 1.82 percent at 12,965 yen, and Uniqlo operator Fast Retailing was off 0.46 percent at 36,680 yen.

Chip-testing equipment maker Advantest was up 1.36 percent at 4,774 yen, but chip-making equipment manufacturer Tokyo Electron was off 0.87 percent at 23,880 yen.