Tokyo’s Nikkei index slips at open

Tokyo’s Nikkei index slips at open

TOKYO,. Tokyo’s key Nikkei index opened lower today as investors digested weaker-than-expected US jobs data.

The Nikkei 225 was down 0.04 per cent, or 8.80 points, at 21,190.77 in early trade, while the broader Topix index was up 0.11 per cent, or 1.66 points, at 1,538.76.

“As the US market last week was mixed, the Japanese market is seen moving in a narrow range,” Toshiyuki Kanayama, senior market strategist at Monex, said in a commentary.

A wait-and-see attitude is dominating the market with the dollar-yen barely reacting to the revised Japanese GDP data released 10 minutes before the opening bell, analysts said.

Japan’s April-June quarter GDP growth figure was revised down to 0.3 per cent from the preliminary estimate of 0.4 per cent growth, according to data released by the Cabinet Office.

The revision was largely in line with market expectations.

The dollar fetched ¥106.97 (RM4.18) in early Asian trade, against ¥106.95 in New York late Friday.

Trade lacked a clear sense of direction in Tokyo, with Sony gaining 1.22 per cent to ¥6,438 while Panasonic slipped 0.61 per cent to ¥845.1.

Automakers were also mixed with Toyota up 0.48 per cent at ¥7,064, while Honda was down 1.24 per cent at ¥2,700.

Nissan was down 0.68 per cent at ¥669.4 amid reports that its chief executive plans to resign after admitting he received more pay than he was entitled to. — AFP

Share This


Wordpress (0)
Disqus (0 )