TOKYO, Jan 26 ― Tokyo stocks opened lower today in cautious trade ahead of corporate earnings reports in Japan and abroad.
The benchmark Nikkei 225 index was down 0.51 per cent or 147.96 points at 28,674.33 in early trade, while the broader Topix index edged down 0.50 per cent or 9.28 points to 1,852.72.
“Japanese shares are seen moving in a narrow range ahead of the country's corporate earnings season,” Okasan Online Securities said.
“Lower yields in the US can provide some support to tech shares, but today's trading session will deter investors from moving actively ahead of earnings from big US tech firms,” it said.
The dollar fetched ¥103.78 (RM4.04) against ¥103.77 in New York late yesterday.
On Wall Street, tech shares were on top again as a heavy week of corporate earnings kicked off while pharmaceutical companies offered mixed news on coronavirus vaccines.
The tech-rich Nasdaq Composite Index finished at a record for the fourth straight session, gaining 0.7 percent, and the broad-based S&P 500 rose 0.4 per cent.
But the bellwether Dow Jones Industrial Average shed 0.1 per cent to 30,960.00.
Apple, Microsoft and Facebook shares all moved solidly higher ahead of earnings releases later in the week.
In Tokyo, tech components maker Nidec was up 2.97 per cent at 14,745 after it raised its annual outlook and said it will buy back shares after reporting quarterly profit and sales that topped analysts' estimates.
Construction machine maker Komatsu was down 1.65 per cent at ¥2,886.5, despite announcing a partnership with US electric vehicle company Proterra to develop battery-powered construction equipment.
Among other major shares, Toyota was down 1.51 per cent at ¥7,561 and Sony was off 0.87 per cent at ¥10,210. ― AFP
