Tokyo shares open lower
TOKYO – Tokyo shares opened 0.84 percent lower on Monday following a slump on Wall Street and the yen’s strength against the euro, brokers said.
The benchmark Nikkei index opened down 79.72 points at 9,434.72.
Investors’ sentiment was dampened by Friday’s decline in US stocks and a relatively strong yen in particular against the European unit, says Yutaka Miura, senior technical analyst at Mizuho Securities.
US stock markets closed firmly in the red Friday, with the Dow posting six straight weeks of losses for the first time since 2002.
The Dow Jones Industrial Average fell 172.45 points or 1.42 percent at 11,951.91 in closing trades.
The dollar fetched 80.39 yen in early Tokyo trade, compared with 80.31 from New York late Friday. The euro traded at 115.34 yen against 116.19 yen late last week.
Exporters and technology stocks are likely to suffer the brunt of the selling on Monday, brokers said.
Dow Jones Newswires contributed to this article
