TOKYO, Jan 6 ― Tokyo stocks opened lower today after two days of rallies, with investors disheartened by falls on Wall Street.
The benchmark Nikkei 225 index was down 0.65 per cent or 192.08 points at 29,140.08 in early trade, while the broader Topix index slipped 0.51 per cent or 10.44 points to 2,028.83.
Japanese shares began the day with falls “after US shares dropped following minutes of the FOMC (Federal Open Market Committee) meeting that prompted expectations the Fed will accelerate the normalisation of monetary policy,” senior market analyst Toshiyuki Kanayama of Monex said.
Investor focus is shifting to whether the Nikkei index will remain above the psychologically important 29,000 mark, analysts said.
Market players are also beginning to anticipate the US earnings season starting next week, which could provide clues to Japanese corporate performances.
The dollar fetched ¥116.14 (RM4.20) against ¥116.04 in New York late yesterday.
In Tokyo, Sony Group dived 5.99 per cent to ¥14,590 after two days of rallies, and after the electronics giant announced yesterday it would found a company to explore entering the rapidly growing electric vehicle market.
Automakers were higher, with Toyota trading up 1.29 per cent at ¥2,321.5 and Honda up 0.79 per cent at ¥3,443.
Investment and telecom giant SoftBank Group was down 0.57 per cent at ¥5,389, Sharp was off 0.87 per cent at ¥1,369, and chip-testing equipment maker Advantest was off 1.68 per cent at ¥11,090. ― AFP
