Quantcast

Tokyo stocks open down 0.75%




TOKYO – Tokyo stocks opened 0.75 percent lower on Wednesday after overseas markets fell on investor jitters over political uncertainty in Greece and its impact on the euro.

The Nikkei 225 index at the Tokyo Stock Exchange opened down 68.93 points at 9,112.72.

“The situation in Greece remains worrisome, especially with respect to the euro,” said Toshiyuki Kanayama, market analyst at Monex brokerage.

He told Dow Jones Newswires that the euro could fall further.

The euro bought $1.2993 and 103.77 yen in early Asian trade, compared with $1.3005 and 103.84 yen in New York late Tuesday. The dollar was flat at 79.84 yen.

Political tension in the eurozone and a clutch of disappointing earnings reports sent US markets tumbling Tuesday.

The Dow Jones Industrial Average gave up almost 200 points at one point but a late buying rally minimised the day’s loss to 0.59 percent. The Dow closed at 12,932.09.

Greece’s conservative New Democracy party, which took the biggest share of weekend votes, failed to form a coalition government. The radical leftist Syriza party, which came second, is trying to form an anti-austerity cabinet.

Moves to re-balance European economic policy away from austerity alone and kickstart growth gathered pace Tuesday as the EU called leaders to extraordinary talks after a voter backlash.

European Union president Herman Van Rompuy announced a May 23 “informal dinner of heads of state or government” in Brussels before a summit scheduled for June 28-29.


Follow Us






Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement
Marketplace