Tokyo stocks open lower on profit-taking

The benchmark Nikkei 225 index was down 0.21 per cent or 49.71 points at 23,128.39 in early trade, while the broader Topix index lost 0.06 per cent or 1.01 points to 1,629.71. — AFP pic
The benchmark Nikkei 225 index was down 0.21 per cent or 49.71 points at 23,128.39 in early trade, while the broader Topix index lost 0.06 per cent or 1.01 points to 1,629.71. — AFP pic

TOKYO, June 9 ― Tokyo stocks opened lower today as investors locked in profits after six straight days of rallies.

The benchmark Nikkei 225 index was down 0.21 per cent or 49.71 points at 23,128.39 in early trade, while the broader Topix index lost 0.06 per cent or 1.01 points to 1,629.71.

“There is a sense of overheating in the Japanese market which is prompting sell orders despite support from rallies in the US market,” said Mizuho Securities, adding that a higher yen against the dollar is also weighing on the market.

The dollar traded at ¥108.30 (RM4.26) in early Asian trade, against ¥108.45 in New York.

In Tokyo, some exporters were lower, with Nissan trading down 1.03 per cent at ¥482.6, chip-testing equipment manufacturer Advantest down 3.09 per cent at ¥5,960, and game giant Nintendo off 0.27 per cent at ¥44,950.

On Wall Street, the Dow ended up 1.7 per cent at 27,572.44. ― AFP

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