Tokyo Stocks Open Lower In Cautious Trade

Fahad Shabbir (@FahadShabbir) Published October 30, 2020 | 08:10 AM

Tokyo, (UrduPoint / Pakistan Point News - 30th Oct, 2020 ) :Tokyo stocks opened lower Friday in cautious trade amid lingering worries over the outcome of the US presidential election and fresh economic stimulus.

The benchmark Nikkei 225 index was down 0.24 percent or 55.63 points at 23,276.31 in early trade, while the broader Topix index slipped 0.56 percent or 9.04 points to 1,601.89.

"Japanese shares are seen starting with falls as there are few reasons to actively buy with just a modest rebound in the US market," senior market analyst Toshiyuki Kanayama of Monex said in a note.

Investors are watching earnings reports due later Friday and in coming days, he added.

The Dollar fetched 104.56 Yen in early Asian trade, against 104.60 yen in New York late Thursday.

In Tokyo, Japan Airlines was down 0.08 percent at 1,886 yen, while Mitsubishi Heavy Industries was down 0.57 percent at 2,258 yen ahead of their second-quarter earnings reports due later in the day.

Japan's unemployment rate stood at 3.0 percent in September, against market expectations of 3.1 percent, according to data released by the internal affairs ministry before the opening bell.

On Wall Street, the Dow ended up 0.5 percent at 26,659.11.