Photo: AFP

Tokyo stocks opened more than two percent lower on Thursday following sharp falls on Wall Street as fears intensify about the new coronavirus after the World Health Organization called the outbreak a pandemic.

The benchmark Nikkei 225 index dropped 2.24 percent or 435.84 points to 18,980.22 in early trade, while the broader Topix index fell 2.42 percent or 33.51 points to 1,351.61.

Following the WHO's pandemic announcement, "concerns over recession due to contraction in various economic activities intensified", Rikiya Takebe, senior strategist at Okasan Online Securities, said in a commentary.

On Wednesday, the head of the UN's top health body for the first time characterised the outbreak as a pandemic, meaning it is spreading in several regions through local transmission.

Tokyo investors were closely watching Donald Trump's address to the nation -- due to start at 0100 GMT -- in which the US president is expected to talk about the US response to the epidemic, analysts said.

The dollar fetched 104.57 yen in early Asian trade, against 104.54 yen in New York late Wednesday.

On Wall Street, the Dow ended down 5.9 percent at 23,553.22.