Tokyo Stocks Open Lower On Investor Caution

Tokyo, Sept 25 (UrduPoint / Pakistan Point News - 25th Sep, 2018 ) :Tokyo's benchmark stock index opened lower on Tuesday as investors turned cautious after six days of gains and waited for the outcome of Japan's trade talks with the United States.

The key Nikkei 225 index, which ended last week at its best level since January, slipped 0.19 percent or 44.56 points to 23,825.37 in early trade while the broader Topix index was up 0.07 percent or 1.33 points at 1,805.35.

"Selling to lock in profits is likely to lead trading due to caution against overheating," SBI Securities said in a note. "A wait-and-see mood may also spread as investors want to see how Japan-US ministerial trade talks as well as the FOMC (Federal Reserve) meeting will turn out," it added.

The US central bank is to start a two-day meeting on Tuesday amid expectations it will raise the benchmark lending rate for the third time this year to rein in inflation.

Japan and the United States are also to hold high-level trade talks this week. Japanese media have said Tokyo would agree to launch a new round of bilateral trade consultations if Washington does not impose extra tariffs on Japanese cars and auto parts.

Meanwhile, the US-China trade row has deepened with the world's two biggest economies trading fresh blows and Washington slapping new tariffs on another $200 billion of Chinese imports.

The Dollar was at 112.83 Yen against 112.78 yen in New York Monday afternoon.

In individual stocks trade, Toyota rose 0.72 percent to 7,051 yen while Uniqlo clothing chain operator Fast Retailing dropped 1.16 percent to 56,140 yen.