Tokyo stocks open lower after US falls

Publish: 11:03 AM, November 18, 2021 | Update: 11:03:AM, November 18, 2021

Tokyo stocks opened lower on Thursday with investors disheartened by Wall Street falls on profit-taking and their focus shifting to the expected announcement this week of new stimulus in Japan.

The benchmark Nikkei 225 index was down 0.29 percent or 85.12 points at 29,603.21 in early trade, while the broader Topix index lost 0.23 percent or 4.65 points to 2,033.69.

The Japanese market is “dominated by sell orders as investors disliked falls in US shares,” senior strategist Yoshihiro Ito of Okasan Online
Securities said in a note.

The dollar fetched 104.17 yen in early Asian trade, against 104.09 yen in New York late Wednesday.

In Tokyo, Eisai dropped 6.14 percent to 7,603 yen tracking its US partner Biogen’s falls as European regulators signalled doubt over approval of the
firms’ Alzheimer’s drug.

Shipping firm Mitsui O.S.K. Lines dropped 4.37 percent to 6,130 yen and its rival Nippon Yusen dipped 5.40 percent to 7,180 yen.

Automakers were mixed, with Toyota trading up 0.33 percent at 2,135 yen and Nissan up 0.63 percent at 633.3 yen but Honda down 0.96 percent at 3,230 yen.

-BSS