Tokyo stocks open lower, extending US losses
TOKYO: Tokyo stocks opened lower Friday after Wall Street shares slumped, battered again by worrying economic data and concerns about the impact of further aggressive Federal Reserve action next week. The benchmark Nikkei 225 index was down 0.93 percent, or 258.60 points, at 27,617.31 in early trade, while the broader Topix index was down 0.59 percent, or 11.57 points, at 1,938.86. “Japanese shares are seen performing weakly, after US shares were dominated by sell-offs especially in technology shares” as US long-term yields continue to rise, Okasan Online Securities said in a note. Ahead of policy meetings by the US and Japanese central banks next week, “a wait-and-see attitude will likely grow,” the brokerage added. Market consensus is that the Fed will raise the benchmark lending rate by 75 basis points next week, though some analysts are floating the possibility of an even more aggressive step. Tokyo stocks close higher, extending US gains The Japanese central bank is highly likely to keep its current massive easing intact.
Tokyo stocks open lower, extending US losses
TOKYO: Tokyo stocks opened lower Friday after Wall Street shares slumped, battered again by worrying economic data and concerns about the impact of further aggressive Federal Reserve action next week. The benchmark Nikkei 225 index was down 0.93 percent, or 258.60 points, at 27,617.31 in early trade, while the broader Topix index was down 0.59 percent, or 11.57 points, at 1,938.86. “Japanese shares are seen performing weakly, after US shares were dominated by sell-offs especially in technology shares” as US long-term yields continue to rise, Okasan Online Securities said in a note. Ahead of policy meetings by the US and Japanese central banks next week, “a wait-and-see attitude will likely grow,” the brokerage added. Market consensus is that the Fed will raise the benchmark lending rate by 75 basis points next week, though some analysts are floating the possibility of an even more aggressive step. Tokyo stocks close higher, extending US gains The Japanese central bank is highly likely to keep its current massive easing intact.