BUSINESS Tokyo shares open lower after US losses


Tokyo shares open lower after US losses


09:04, January 14, 2022

Tokyo shares opened lower on Friday after US tech shares dived on expectations of higher interest rates.

The benchmark Nikkei 225 index dropped 1.48 percent or 421.69 points to 28,067.44 in early trade, while the broader Topix index lost 1.36 percent or 27.33 points to 1,978.25.

"The Japanese market is likely to see a downward trend today. The rise of US yields took a break yesterday but the dive in tech shares was tough," Online Okasan Securities said in a note.

Mizuho Securities said the market "is expected to be dominated by selling due to caution about a US interest rate hike."

The dollar fetched 114.09 yen, down from 114.16 yen in New York and 114.62 yen in Tokyo on Thursday.

On Wall Street, all three major indices ended lower, with the tech-rich Nasdaq falling the most at 2.5 percent.

In Tokyo trading, Sony lost 1.48 percent to 14,255 yen while SoftBank Group dropped 1.86 percent to 5,462 yen.

Advantest, which makes testing kits for semiconductors, fell 1.28 percent to 10,790, while industrial robot maker Fanuc tumbled 3.86 percent to 22,995 yen.

Fast Retailing, which reported a record first-quarter profit on Thursday, soared 6.94 percent to 63,250 yen.

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