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Tokyo’s Nikkei index opens slightly lower

Tokyo’s Nikkei index opens slightly lowerTokyo: Tokyo’s benchmark Nikkei index opened slightly lower on Thursday after falls on Wall Street, with a stable yen offering some support to exporters.

The Nikkei 225 index was down 0.12 percent or 26.70 points at 22,814.42 in early trade, while the broader Topix index was up 1.14 percent or 2.48 points at 1,716.35.

The dollar fetched 112.63 yen in early Asian trade against 112.59 yen in New York.

The US Federal Reserve’s minutes helped US yields edge up, creating a trend for the yen’s decline which “will be a tailwind” for Japanese exporters, Okasan Online Securities said in a commentary.

The US Treasury’s decision in a report on Wednesday to avoid calling China a currency manipulator also offered investors some relief, analysts said.

In Tokyo, Takeda Pharmaceutical was up 0.88 percent at 4,702 yen and game giant Nintendo was up 0.48 percent at 39,960 yen while market heavyweight and Uniqlo casual wear operator Fast Retailing was down 0.79 percent at 56,180 yen.

In New York, the Dow ended down 0.4 percent at 25,706.68.

Copyright AFP (Agence France-Press), 2018

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Source: Brecorder

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