TOKYO: Tokyo stocks opened lower on Friday, tracking falls on Wall Street, with investors cautious ahead of key US inflation data due later in the day.
The benchmark Nikkei 225 index was down 1.03 percent, or 290.31 points, at 27,956.22 in early trade, while the broader Topix index fell 1.01 percent, or 19.82 points, to 1,949.23.
After starting under pressure after US losses, Tokyo trading will likely display a “wait-and-see attitude, ahead of the US consumer price index” for May to be released later Friday, said senior market analyst Toshiyuki Kanayama of Monex.
The dollar fetched 134.15 yen in early Asian trade, against 134.40 yen in New York and 133.75 yen in Tokyo on Thursday.
US equities sank overnight, with the Dow shedding nearly two percent ahead of the key data on soaring consumer prices and after the European Central Bank joined the Federal Reserve in taking steps to rein in inflation.
Rate hikes by major central banks have caused the yen to plunge against the dollar as the Bank of Japan sticks to its ultra-loose monetary policy in a decades-long battle against deflation.
Shipping firms were lower in Tokyo trading, with Mitsui O.S.K. Lines losing 2.02 percent to 3,155 yen, and Kawasaki Kisen trading down 1.73 percent at 9,100 yen.
Chip-testing equipment maker Advantest was down 2.80 percent at 8,330 yen, SoftBank Group was off 3.00 percent at 5,489 yen and Toyota was off 1.05 percent at 2,216 yen.
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