TOKYO: Tokyo stocks opened lower on Tuesday 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 percent or 151.75 points at 29,495.33 in early trade, while the broader Topix index slipped 0.24 percent 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.
Stocks mostly rise but China data hits Hong Kong
Trade will stay cautious ahead of a national holiday in Japan on Wednesday and the US Federal Reserve's policy decision on Wednesday, analysts said.
The dollar fetched 114.01 yen in early Asian trade, little changed from 114.00 yen in New York late Monday.
In Tokyo, Toyota was down 0.32 percent at 2,043.5 yen, Panasonic was off 1.16 percent at 1,366 yen, and Hitachi slipped 0.47 percent to 6,767 yen.
Japan Airlines was up 1.34 percent at 2,490 yen ahead of its earnings report due after market close, while its rival ANA Holdings was up 1.59 percent at 2,710.5 yen as a report said entry restrictions would be lifted for foreign students and short-term business travellers.
Trading house Itochu was up 0.30 percent at 3,331 yen after a report said its full-year net profit will likely rise 70% to a record. Its rival Mitsui & Co was up 0.88 percent at 2,691 yen 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 percent gain at 35,913.84.
Comments
Comments are closed for this article.