Tokyo stocks open lower with eyes on China data
Business Desk: Dhaka, May-31,
Tokyo stocks opened lower on Tuesday after strong rallies in the previous session and with investors eyeing Chinese economic indicators due later in the day.
The benchmark Nikkei 225 index was down 0.25 percent, or 69.75 points, at 27,299.68 in early trade, while the broader Topix index slipped 0.31 percent, or 5.93 points, to 1,916.51.
Morning trade was volatile, with the Nikkei index moving between positive and negative territory.
“Risk-on sentiment in global markets may support” trading in Tokyo after Japanese shares ended more than two percent higher on Monday, Okasan Online Securities said.
Investors were watching China’s purchasing managers indexes due later on Tuesday, analysts said.
The dollar fetched 128.15 yen in early trade, against 127.59 yen in London.
Among major shares in Tokyo, Toyota was down 0.26 percent at 2,121 yen and SoftBank Group was off 0.19 percent at 5,348 yen but Sony Group was up 0.50 percent at 12,055 yen.
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