Business

Tokyo stocks open lower, extending US falls


By AFP
Published : 24 Jan 2022 08:16 PM | Updated : 24 Jan 2022 08:16 PM

Tokyo stocks opened lower on Monday with investors disheartened by falls on Wall Street and eyeing this week's US central bank meeting.

The benchmark Nikkei 225 index fell 0.76 percent, or 210.28 points, to 27,311.98 in early trade, while the broader Topix index slipped 0.73 percent, or 14.10 points, to 1,913.08.

The dollar fetched 113.72 yen in early Asian trade, against 113.70 yen in New York late Friday.

"The Japanese market is led by sell orders following falls in US shares, but bargain-hunting may emerge later," Mizuho Securities said.

"A wait-and-see attitude may grow ahead of the January 25-26 meeting of the US Federal Open Market Committee," the brokerage added.

Wall Street stocks tumbled again on Friday, following a plunge in Netflix shares that sent the tech-rich Nasdaq index further into correction territory.

Stocks have been under pressure so far this year after the US Fed shifted to a more restrictive monetary policy path that will include interest rate increases.

Among major shares in Tokyo, Fujitsu was down 2.67 percent at 18,200 yen and Nippon Steel was off 1.31 percent at 1,879.5 yen. Sony Group was down 1.04 percent at 12,820 yen.