Tokyo Stocks Open Lower After US Losses

Tokyo, (APP - UrduPoint / Pakistan Point News - 7th Dec, 2023) Tokyo stocks opened lower on Thursday after Wall Street fell as the US job market cooled further and oil prices tumbled.

The benchmark Nikkei 225 index lost 0.84 percent, or 281.33 points, to 33,164.57 in early trade, while the broader Topix index slid 0.73 percent, or 17.31 points, to 2,369.89.

"The Tokyo market is expected to fall following losses of US shares," senior market analyst Toshiyuki Kanayama of brokerage Monex said.

In New York, the Dow Jones Industrial Average fell 0.2 percent.

The broad-based S&P 500 shed 0.4 percent while the broad-based S&P 500 fell 0.4 percent.

The US private sector added 103,000 jobs in November, according to the latest ADP report, below October's level and well under analyst estimates.

Meanwhile, US crude oil prices fell more than four percent to finish below $70 a barrel for the first time in five months, denting petroleum-linked shares.

In the Tokyo market, Softbank Group tumbled 2.38 percent to 5,651 Yen while Uniqlo operator Fast Retailing fell 0.89 percent to 36,630 yen.

Sony Group dropped 1.29 percent to 12,960 yen. Chip-linked Advantest tanked 3.29 percent to 4,286 yen.

The Dollar traded at 147.04 yen against 147.35 yen on Wednesday in New York.