TOKYO: Tokyo stocks opened down 0.46 percent on Friday after an overnight fall on Wall Street amid the European debt crisis and a major ratings agency's downgrade of Spain.
The benchmark Nikkei index at the Tokyo Stock Exchange opened down 40.34 points at 8,782.91.
Falling banking stocks dragged the main US market indices down Thursday amid the eurozone debt crisis, with the Dow Jones Industrial Average down 40.72 points (0.35 percent) at 11,478.13 in closing trade.
In the latest downgrading of European sovereign debt by a major ratings agency, Standard & Poor's on Thursday cut Spain's credit rating by one notch to "AA-" from "AA" with a negative outlook.
S&P said Spain's high unemployment, tighter financial conditions and "the likely economic slowdown in Spain's main trading partners" prompted the downgrade.
The euro bought $1.3758 and 105.76 yen in early Asian trade on Friday, down from $1.3783 and 105.92 yen in New York late Thursday.
The dollar was almost flat against the Japanese currency, trading at 76.89 yen.
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