TOKYO, May 13 ― Tokyo stocks opened lower today, tracking falls on Wall Street as investors focused on corporate earnings that have been decimated by the coronavirus pandemic.
The benchmark Nikkei 225 index was down 1.11 per cent or 226.92 points at 20,139.56 in early trade, while the broader Topix index slipped 0.89 per cent or 13.21 points to 1,463.51.
“We are seeing Japanese shares falling against the backdrop of declines in the US stocks market,” with the Nikkei index's psychologically important 20,000-point level in focus, said Okasan Online Securities.
Traders are watching Japanese earnings reports with “uncertainty about the prospects of corporate performances likely to cap the upside” for share prices, the analysts said.
The dollar fetched ¥107.16 (RM4.33) in early Asian trade, against ¥107.14 in New York late yesterday.
In Tokyo, major shares were lower, with Uniqlo casual wear operator Fast Retailing trading down 2.18 per cent at ¥52,090, and Telecom and investment giant SoftBank Group down 1.89 per cent at ¥4,615.
Honda was down 2.12 per cent at ¥2,469.5 after it said its full-year net profit had fallen sharply, hit by the virus outbreak.
Sony was down 0.64 per cent at ¥7,026 ahead of its earnings report due after the market close later in the day.
On Wall Street, the Dow ended down 1.9 per cent at 23,764.78. ― AFP
