TOKYO, June 28 — Tokyo stocks opened lower today on profit-taking ahead of key US-China trade talks at the Group of 20 summit.
The benchmark Nikkei 225 index was down 0.20 per cent or 42.00 points at 21,296.17 in early trade, while the Topix index was down 0.12 per cent or 1.81 points at 1,551.46.
“Wait-and-see attitude is growing further ahead of the G20 summit,” Okasan Online Securities chief strategist Yoshihiro Ito said.
“Attentions are being paid to the US-China summit,” he added.
The two-day summit in the Japanese city of Osaka will be dominated by trade issues, with all eyes on whether US President Donald Trump and Chinese President Xi Jinping can reach a truce in a dispute that has been hugely damaging for the world economy.
But world leaders will also be seeking to tamp down tensions between Washington and Iran that have led to fears of a new conflict in the Middle East.
The dollar fetched ¥107.65 in early Asian trade, against ¥107.78 in New York.
In Tokyo some exporters were lower, with Canon slipping 0.72 per cent to ¥3,149, electronic components maker Kyocera sliding 0.75 per cent to ¥6,965 and Nikon trading down 1.42 per cent at ¥1,518.
In May, Japan’s jobless rate stood at 2.4 per cent, confirming the country’s labour market remains tight, while factory output rose 2.3 per cent month-on-month, government data released minutes before the opening bell showed.
On Wall Street, the Dow ended down less than 0.1 per cent at 26,526.58. — AFP
