Tokyo’s Nikkei opens down nearly 2pc after Wall Street rout

Tokyo’s Nikkei opens down nearly 2pc after Wall Street rout

TOKYO,. Tokyo’s key Nikkei index opened down nearly two per cent today after Wall Street shares nosedived on fears for the global economy.

The Nikkei 225 index was down 1.93 per cent or 398.51 points at 20,256.62 in early trade, while the broader Topix index dropped 2.01 per cent or 30.14 points to 1,469.36.

“The Japanese stock market is sliding against the backdrop of sharp falls in US shares,” Okasan Online Securities said in a note.

“Worries over the US economic recession grew, while negative economic data for China and Germany also prompted investors to downgrade their views on the global economy,” Mizuho Securities added.

The dollar fetched ¥105.91 in early Asian trade, against ¥105.78 in New York.

Tokyo shares were down across the board, with Toyota down 1.85 per cent at ¥6,726, Nissan down 2.18 per cent at ¥648, and Sony off 2.51 per cent at ¥5,766.

On Wall Street, the Dow ended down 3.1 per cent at 25,479.42. — AFP