TOKYO, Oct 27 — Tokyo stocks opened lower today on profit-taking after sharp rallies in the previous session, as investors closely watched this week’s corporate earnings.
The benchmark Nikkei 225 index was down 0.16 per cent or 47.70 points at 29,058.31 in early trade, while the broader Topix index slipped 0.05 per cent or 1.08 points to 2,017.32.
The Japanese market started with declines “in reaction to sharp gains in the previous session after US shares ended with modest increases,” said Toshiyuki Kanayama, senior market analyst of Monex.
Investors are closely watching earnings reports in Japan, which are more important factors than GDP growth figures due this week in the US and Europe or Japan’s general elections on Sunday, analysts said.
The dollar fetched ¥114.15 (RM4.15) in early Asian trade, barely changed from 114.14 yen in New York late yesterday.
Airline ANA Holdings was down 1.30 per cent at ¥2,645, after a report said it was expected to book an operating loss of around ¥110 billion (US$960 million) for the April-September half.
Its rival Japan Airlines was down 1.50 per cent at ¥2,419.
Canon was down 5.81 per cent at ¥2,568.5 after it cut its full-year operating profit forecast.
Hitachi was down 0.69 per cent at ¥6,728 ahead of its earnings report due after market close.
On Wall Street, the Dow ended up less than 0.1 per cent at 35,756.88 while the broad-based S&P 500 finished up 0.2 per cent and the tech-rich Nasdaq closed up 0.1 per cent. — AFP
