TOKYO, July 28 ― Tokyo stocks opened lower yesterday as investors were disheartened by falls on Wall Street with eyes on the outcome of a US Federal Reserve meeting later in the day.
The benchmark Nikkei 225 index was down 0.95 per cent, or 266.40 points, at 27,703.82, while the broader Topix index slipped 0.70 per cent, or 13.55 points, to 1,924.49.
“We are seeing the Japanese market led by profit-taking sell orders, chiefly in tech shares, following a retreat in US shares,” Okasan Online Securities said.
Some individual shares are enjoying bargain-hunting purchases, especially those with expected strong earnings, it added.
But overall trade remains cautious ahead of the policy announcement from the US central bank, Okasan said.
The dollar fetched ¥109.79 (RM4.23) in early Asian trade, against ¥109.78 in New York late yesterday.
Toyota was down 0.36 percent at ¥9,835. Its smaller rival Mitsubishi Motors was up 5.61 per cent at ¥301 after it reported a better-than-expected first-quarter operating profit and lifted its full-year forecast.
Nissan was up 2.92 per cent at ¥588.2 ahead of its earnings report due after market close.
Among tech shares, Sony was up 2.40 per cent at ¥11,315 and Panasonic was up 0.30 per cent at ¥1,329. But chip-testing equipment maker Advantest was down 1.80 per cent at ¥9,300 and Toshiba was off 1.57 per cent at ¥4,715.
On Wall Street, the tech-rich Nasdaq finished with a 1.2 per cent loss and the benchmark Dow dropped 0.2 per cent on a downbeat day. ― AFP
