BUSINESS Tokyo stocks open lower as key US stimulus talks reach 11th hour

BUSINESS

Tokyo stocks open lower as key US stimulus talks reach 11th hour

Xinhua

09:34, October 22, 2020

TOKYO, Oct. 22 (Xinhua) -- Tokyo stocks opened lower Thursday following Wall Street's weak lead overnight.

As of 9:15 a.m., the 225-issue Nikkei Stock Average dropped 178.52 points, or 0.76 percent, from Wednesday to 23,460.94.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 17.95 points, or 1.10 percent, at 1,619.65.

Investors are now awaiting a fresh deadline of Friday for U.S. House of Representatives Speaker Nancy Pelosi and U.S. Treasury Secretary Steven Mnuchin to reach a consensus on a new round of COVID-19 stimulus measures to be enacted before the presidential election on Nov. 3.

Despite opposition to the huge stimulus deal from within the Republican Party, U.S. President Donald Trump has said he would accept a relief bill drafted by the Democrats, which had sparked optimism among global markets.

In the opening minutes after the morning bell, air transportation, pharmaceutical and mining-oriented issues comprised those that declined the most.

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