Tokyo stocks open lower on higher yen, falls in US shares
Tokyo stocks opened lower on Tuesday as a stronger yen and falls on Wall Street weighed on the market after three days of holidays.
The benchmark Nikkei 225 index was down 1.07% or 221.35 points at 20 463.47 in early trade while the broader Topix index fell 0.81% to 1 491.63.
"Japanese shares are seen losing as investors are discouraged by falls in US shares and a stronger yen," Yoshihiro Ito, Okasan Online Securities chief strategist, said in a commentary.
The dollar fetched ¥105.36 in early Asian trade, up slightly from ¥105.28 in New York late on Monday, but down from ¥105.66 in Tokyo on Friday.
Falls in Tokyo shares were led by exporters, with game giant Nintendo dropping 2.23% to ¥38 560, Panasonic trading down 1.95% at ¥818.4 and Sony off 1.17% at ¥5 903.
Automakers were also among the losers, with Toyota trading down 1.40% at ¥6 241, Honda off 2.61% at ¥2 475.4 and Nissan down 2.32% at ¥660.
On Wall Street, the Dow ended down 1.5% at 25 896.44.