TOKYO, July 10 ― Tokyo stocks opened lower today, with investors disheartened by falls in key US indices as markets weighed the impact from the spike in coronavirus cases in many US states.
The benchmark Nikkei 225 index was down 0.07 per cent or 15.68 points at 22,513.61 in early trade, while the broader Topix index slipped 0.37 per cent or 5.73 points to 1,551.51.
“Japanese shares are seen dominated by sell orders in early trade following a fall in the Dow in New York,” Okasan Online Securities said in a commentary.
The dollar fetched ¥107.22 (RM4.27) in early Asian trade, against ¥107.17 in New York.
In Tokyo, banks were among losers, with Mitsubishi UFJ Financial trading down 1.61 per cent at ¥410.3 and Sumitomo Mitsui Financial down 0.83 per cent at ¥2,990.
Uniqlo casual wear operator Fast Retailing dropped 3.77 per cent to ¥60,010 after it reported plunging profits and lowered its annual profit outlook.
The firm now expects annual net profit to August of ¥85 billion, down from an earlier projection of ¥100 billion announced in April, and nearly a half of what it earned in the previous year, it said after market close yesterday.
On Wall Street, the tech-rich Nasdaq finished at another record yesterday, but the Dow and S&P 500 retreated as markets weigh the economic toll from the spike in coronavirus cases in many US states. The Dow ended down 1.4 percent at 25,706.09. ― AFP
