BUSINESS Tokyo stocks open lower on profit-taking

BUSINESS

Tokyo stocks open lower on profit-taking

AFP

08:25, January 18, 2021

A general view shows the Tokyo Stock Exchange logo in Tokyo on October 2, 2020. (Photo: AFP)

Tokyo stocks opened lower Monday on profit-taking after falls on Wall Street with US President-elect Joe Biden's $1.9-trillion stimulus plan largely priced in.

The benchmark Nikkei 225 index was down 1.06 percent, or 302.08 points, at 28,217.10 in early trade, while the broader Topix index slipped 0.63 percent, or 11.66 points, to 1,844.95.

"Investors are seen disheartened by falls in US shares" on profit-taking, Mizuho Securities said.

Eyes are also on China's GDP growth data for the October-December quarter, due during late morning trade in Tokyo, the firm added.

The dollar fetched 103.90 yen in early Asian trade, against 103.86 yen in New York late Friday.

Among major shares in Tokyo, Sony was down 0.90 percent at 10,465 yen and Canon was down 1.38 percent at 2,217.5 yen.

Uniqlo casual wear operator Fast Retailing was down 0.67 percent at 90,380 yen.

On Wall Street, the Dow ended down 0.6 percent at 30,814.26 points.

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