Connect to share and comment

Tokyo stocks open down 0.2%

PlacardEnlarge
(Globalpost/GlobalPost)

Tokyo stocks opened 0.20 percent lower on Monday after ending last week trade at a six-month high.

The Nikkei 225 index was down 30.89 points to 15,426.98 at the start.

Tokyo stocks closed more than one percent higher on Friday after a healthy US jobless claims report boosted the dollar against the yen, sending exporter shares higher.

But on Wall Street, the Dow Jones Industrial Average was weighed down by some disappointing results from blue-chip companies, losing 139.61 (0.82 percent) to 16,960.57.

Mixed corporate earnings produced varied results on Wall Street last week, resulting in gains for the Nasdaq, losses for the Dow and a nearly flat S&P 500.

The tech-rich Nasdaq Composite Index, buoyed by strong results from Apple and Facebook, advanced 17.41 points (0.39 percent) on the week to 4,449.56.

The mixed trade in New York would likely weigh on Tokyo shares, Eiji Kinouchi, senior strategist at Daiwa Securities, told Dow Jones Newswires before the opening bell.

Investors are looking to earnings from Japan's blue chip companies this week, with Nissan to announce its financial report later on Monday.

The greenback fetched 101.77 yen, against 101.83 yen in New York on Friday.

bur-oh/erf

http://www.globalpost.com/dispatch/news/afp/140727/tokyo-stocks-open-down-02-0