TOKYO: Tokyo stocks opened 0.99 percent lower on Wednesday following a weak performance on Wall Street overnight.
The Nikkei 225 index at the Tokyo Stock Exchange, which rose 2.36 percent Tuesday to its highest point since Japan was devastated by a massive earthquake and tsunami in March last year, opened down 101.64 points at 10,153.51.
Tuesday was the dividend cut off day for many shares on the market, meaning traders who wanted to receive payouts from the most recent payment period must have owned a stock by Tuesday's close of play.
As a result, the index had been expected to fall Wednesday because of the lack of buying impetus.
Investors were also uninspired by US consumer-confidence and home-price data, Tachibana Securities operating officer Kenichi Hirano told Dow Jones Newswires.
The dollar stayed above 83.00 yen, changing hands at 83.07 yen in early Asian trade against 83.15 yen in New York late Tuesday.
The euro bought $1.3330 and 110.76 yen, compared with $1.3315 and 110.71 yen in New York.
Sharp was untraded due to a flood of bids after it announced late Tuesday an $808 million tie-up with Taiwan's Hon Hai Precision, the parent company of manufacturing giant Foxconn, which builds gadgets for Apple.
US stocks closed lower Tuesday amid profit taking after Monday's strong surge and a slip in consumer confidence.
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