Tokyo shares open lower ahead of election

25 Oct, 2021

TOKYO: Tokyo stocks opened lower on Monday as investors await corporate earnings and Japan's upcoming general election.

The benchmark Nikkei 225 index fell 0.92 percent, or 265.45 points, to 28,539.40, while the broader Topix index dipped 0.59 percent, or 11.78 points, to 1,990.45.

"The Japanese market will experience see-saw trade ahead of the general election this weekend," Okasan Online Securities said.

Traders are also eyeing earnings in the United States and Japan, the brokerage added.

Tokyo stocks open lower with few fresh clues for market

"Selling sentiment is likely to be strong following losses in US tech shares," Mizuho Securities said.

The tech-rich Nasdaq Composite Index dropped 0.8 percent to 15,090.20 on Friday, while the Dow finished at a record, ending up 0.2 percent at 35,677.02.

In Tokyo trading, tech-related shares were lower with Tokyo Electron plunging 2.08 percent to 49,690 yen and Fanuc losing 1.39 percent to 24,055 yen.

SoftBank Group tumbled 2.66 percent to 6,434 yen while Uniqlo operator Fast Retailing dropped 2.67 percent to 70,830 yen.

Toyota fell 1.89 percent to 1,946 yen while Honda slid 0.58 percent to 3,397 yen. Nissan was down 1.39 percent to 579 yen.

The dollar traded at 113.54 yen, against 113.46 yen in New York on Friday.

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