TOKYO, Aug 5 ― Tokyo stocks opened lower today after two days of rallies, as investors sought to lock in profits while watching corporate earnings and key US data.
The benchmark Nikkei 225 index was down 0.49 per cent, or 111.24 points, at 22,462.42 in early trade, while the broader Topix index slipped 0.49 per cent, or 7.69 points, to 1,547.57.
“After more than 830 points of gains in the... two previous sessions, the Japanese market is seen dominated by sell orders,” Toshiyuki Kanayama, senior market analyst at Monex, said in a commentary.
But profit-taking could be offset by some active buying based on corporate earnings, analysts said.
Investors are also keenly awaiting the US ISM non-manufacturers index due later in the day and key US jobs data this weekend, they added.
The dollar fetched ¥105.69 (RM4.21) in early Asian trade, against ¥105.64 in New York late yesterday.
In Tokyo, Sony was up 0.31 per cent at ¥8,713 after the electronics giant said its net profit jumped 53.3 per cent in the first quarter, but warned annual profits were likely to see double-digit falls as the coronavirus pandemic continues to cloud the forecast.
Nippon Steel was up 1.83 per cent at ¥944.5 after its quarterly operating loss was smaller than market expectations.
Honda was down 0.51 per cent at ¥2,753 ahead of its quarterly earnings report due later in the day.
Among other major shares, Mitsubishi Heavy was down 1.76 per cent at ¥2,450, pharmaceutical firm Eisai was down 1.77 per cent at ¥8,596, and small car specialist Suzuki was down 1.51 per cent at ¥3,915.
On Wall Street, the Dow ended up 0.6 per cent at 26,828.47. ― AFP
