Tokyo shares open lower
TOKYO – Tokyo shares opened 0.26 percent lower on Monday, tracking a fall on Wall Street last week due to a dismal US jobs report.
The benchmark Nikkei index fell 24.84 points to open at 9,467.37 with market players disheartened by the weaker-than-expected US jobs data and a subsequent rise in the yen against the dollar.
US stocks dropped Friday after the Labor Department reported that the economy added a paltry 54,000 jobs in May.
In closing trades the Dow Jones Industrial Average was down 97.29 points (0.79 percent) at 12,151.26.
“Investors want to further assess whether the weak data was a result of lingering impact from disruptions to Japan’s supply chain (due to the March 11 quake disaster) or a reflection of the slowdown in the overall US economy,” said Yumi Nishimura, a senior market analyst at Daiwa Securities.
The dollar remained weak against the yen in early Tokyo trade, fetching 80.27 yen in line with levels in New York late Friday.
Article continues after this advertisementThe euro bought $1.4644, slightly up from $1.4637 in New York where the European single currency soared as indebted Greece won pledges of a new bailout deal coupled with fresh funds, possibly including help from private banks.
