Markets

Tokyo stocks open down 0.47 percent

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TOKYO: Tokyo shares opened down 0.47 percent on Thursday after investors grew cautious on new worries over US growth and talk of oil stock releases by Western powers.

The Nikkei 225 index at the Tokyo Stock Exchange opened 47.79 points lower at 10,134.78.

Worse-than-expected US durable goods orders Wednesday helped push stocks on Wall Street lower, said Yoshihiro Okumura, general manager of research at Chibagin Asset Management.

The yen's weakening momentum, which has helped the Nikkei gain in recent weeks, was easing for now, he noted.

"Risk-taking is in a lull," Okumura told Dow Jones Newswires.

With softer US durable goods data keeping the safe haven yen in demand, the dollar was trading in the 82 yen range against levels above 84 yen reached two weeks ago.

The dollar was quoted at 82.82 yen in early Asian trade against 82.86 yen in New York late Wednesday. The euro bought $1.3330 and 110.42 yen compared with at $1.3316 and 110.36 yen in New York.

Falling energy and commodity shares pulled US markets lower Wednesday amid US growth concerns and talk of Western countries releasing strategic oil stocks.

The Dow Jones Industrial Average closed down 0.54 percent at 13,126.21.

Copyright AFP (Agence France-Presse), 2012