Tokyo stocks open lower | Fin24

Tokyo stocks open lower

Sep 05 2018 07:49

Tokyo - Tokyo stocks opened lower on Wednesday, extending losses on global bourses amid continued worries about trade conflicts.

The Nikkei 225 index was down 0.25% or 57.20 points at 22 639.70 in early trade, while the broader Topix index was down 0.36% or 6.26 points at 1 711.98.

"Following directionless trade on Tuesday, we are seeing another day without clues for trade, and selling may dominate the market," SBI Securities said in a commentary.

The dollar fetched ¥111.43 in early Asian trade, against ¥111.45 in New York late on Tuesday.

Investors were eyeing the latest in the ongoing spat between the US and Canada after President Donald Trump again threatened to leave Canada out of a revamped North American Free Trade Agreement.

Talks with Ottawa are set to resume in Washington on Wednesday to try to salvage the three-nation NAFTA, although Trump has said he could proceed with Mexico alone.

Analysts also are monitoring the state of trade relations between Washington and Beijing, with the possibility of a new wave of punitive tariffs hitting as soon as this week.

In Tokyo, China-linked shares were among losers, with construction machine maker Komatsu dropping 3.20% to ¥3 048 and industrial robots maker Fanuc down 0.98% at ¥21 185.

Game giant Nintendo was off 0.45% at ¥39 570 and chip-making devices maker Tokyo Electron was down 0.40% at ¥18 440.

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