Tokyo stocks open lower | Fin24

Tokyo stocks open lower

Oct 05 2018 07:58

Tokyo - Tokyo stocks opened lower on Friday, taking a negative lead from New York where stocks sank on worries about the sharp rise in US Treasury bond yields.

The benchmark Nikkei 225 index fell 0.79% or 189.52 points to 23 786.10 in early trade while the broader Topix was down 0.49% or 8.87 points at 1 792.32.

"Concerns over US interest rates triggered early profit-taking," Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP.

US stocks finished solidly lower, with the tech-rich Nasdaq slumping 1.8% and the Dow falling after hitting records the prior two days.

The declines came as the yield on the 10-year US Treasury bond rose to 3.20% after sharply increasing on Wednesday following a trove of positive US economic data.

The dollar traded at ¥113.89 in early trade against ¥113.92 in New York late on Thursday.

Investors largely ignored a 2.8% jump in Japan's household spending in August announced shortly before the market opened.

They are now paying close attention to US September payroll figures, dealers said.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

Follow Fin24 on Twitter and Facebook. encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

equities  |  currency  |  markets


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Can the SABC avoid retrenching staff?

Previous results · Suggest a vote