TOKYO, Sept 30 ― Tokyo stocks opened lower today, tracking falls on Wall Street as investors awaited the first US presidential debate for fresh trading cues.
The benchmark Nikkei 225 index was down 0.34 per cent or 79.06 points at 23,460.04 in early trade, while the broader Topix index slipped 0.51 per cent or 8.49 points at 1,649.61.
“Japanese shares today are seen moving, with investors' eyes on the US presidential debate,” Okasan Online Securities said in a note.
The overall mood in the Japanese market is positive, partly due to expectations for reforms under new Prime Minister Yoshihide Suga, a day after telecom operator NTT announced a takeover of its mobile phone unit, it added.
NTT is proposing a price of ¥3,900 (RM153.33) per remaining share ― a 40 per cent premium on Monday's closing price ― to buy out the whole of its subsidiary NTT Docomo, it said on Tuesday after the market close.
“With a 40 per cent premium set... it's almost certain that the takeover will be successful,” Masayuki Kubota, chief strategist at Rakuten Securities, said in a commentary.
NTT was down 2.77 per cent at 2,168.5 on concerns the deal could have negative impact on NTT's financial conditions.
NTT Docomo climbed 21.07 per cent to ¥3,890, near the TOB price of ¥3,900.
Docomo's smaller rival and wireless newcomer Rakuten was up 1.06 per cent at ¥1.134.
Among other major shares, Toyota was down 0.75 per cent at ¥7,060, Uniqlo casual wear operator Fast Retailing was down 0.41 per cent at ¥65,830, and Sony was down 0.67 per cent at ¥8,145.
The dollar fetched ¥105.61 in early Asian trade, against ¥105.68 in New York late yesterday.
On Wall Street, the Dow ended down 0.5 per cent at 27,452.66. ― AFP
