TOKYO, June 18 — Tokyo stocks opened lower today as traders weighed economic recovery hopes against fears of a second wave of coronavirus infections, with a stronger yen weighing on the market.
The benchmark Nikkei 225 index was down 0.28 per cent or 62.06 points at 22,393.70 in early trade, while the broader Topix index slipped 0.30 per cent or 4.79 points to 1,582.30.
“Japanese share trading is seen as mixed... while a higher yen is weighing on the market after the US market” had a lacklustre session, Okasan Online Securities chief strategist Yoshihiro Ito said.
In New York, the Dow and S&P 500 both fell yesterday as markets monitored increased coronavirus cases amid worries US stocks are overvalued.
Meanwhile, New York City’s restaurants and bars — closed for three months due to the coronavirus pandemic — will be allowed to open outside areas next week, Governor Andrew Cuomo said yesterday.
New York state has drastically reduced its number of daily deaths, infections and hospitalisations since it become ground zero in America’s Covid-19 fight in late March.
In Japan, the government is expected this weekend to loosen guidelines on travel, despite lingering worries about a second wave of infections.
The dollar fetched ¥106.84 (RM4.28) in early Asian trade, against ¥106.97 in New York and ¥107.28 in Tokyo late yesterday.
In Tokyo, automakers were among losers, with Toyota trading down 0.85 per cent at ¥6,885 and Nissan down 1.98 per cent at ¥421.6.
Airlines were also lower, with Japan Airlines dropping 3.43 per cent to ¥2,069.5 and ANA Holdings dipping 0.89 per cent t0 ¥2,620.
Nintendo was up 2.48 per cent at ¥49,950 after it and group firm Pokemon Co announced several new games and apps in the critter-collecting Pokemon series.
On Wall Street, the Dow finished at 26,119.61, down 0.7 per cent. — AFP
