TOKYO, Nov 2 ― Tokyo stocks opened lower today on profit-taking after a strong rally in the previous session with trade remaining cautious ahead of a public holiday.
The benchmark Nikkei 225 was down 0.51 per cent or 151.75 points at 29,495.33 in early trade, while the broader Topix index slipped 0.24 per cent or 4.81 points to 2,039.91.
“Japanese shares are starting with losses after a sharp increase in the previous session,” said Toshiyuki Kanayama, senior market analyst at Monex, as investors cheered general election results showing a victory for Prime Minister Fumio Kishida.
Trade will stay cautious ahead of a national holiday in Japan tomorrow and the US Federal Reserve's policy decision tomorrow, analysts said.
The dollar fetched ¥114.01 (RM4.14) in early Asian trade, little changed from ¥114.00 in New York late Monday.
In Tokyo, Toyota was down 0.32 per cent at ¥2,043.5, Panasonic was off 1.16 per cent at ¥1,366, and Hitachi slipped 0.47 per cent to ¥6,767.
Japan Airlines was up 1.34 per cent at ¥2,490 ahead of its earnings report due after market close, while its rival ANA Holdings was up 1.59 per cent at ¥2,710.5 as a report said entry restrictions would be lifted for foreign students and short-term business travellers.
Trading house Itochu was up 0.30 per cent at ¥3,331 after a report said its full-year net profit will likely rise 70 per cent to a record.
Its rival Mitsui & Co was up 0.88 per cent at ¥2,691 after a US bank revised up its evaluation of the shares and ahead of its earnings due later in the day.
On Wall Street, stock indices finished at fresh records with the Dow finishing with a 0.3 per cent gain at 35,913.84. ― AFP
Source: Malay Mail
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