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Tokyo stocks open lower after US stocks slide

Pedestrians walk past an electronic share price board displaying the numbers of the Nikkei 225 Index on the Tokyo Stock Exchange in Tokyo. (Photo by Kazuhiro NOGI / AFP)
  • The dollar fetched 126.68 yen in early Asian trade, against 126.86 yen in New York on Tuesday
  • Sony Group dropped 1.19 percent to 11,235 yen, Hitachi fell 1.22 percent to 6,545 yen, and Fujitsu was off 1.45 percent at 19,330 yen

Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from the owner of Snapchat that shocked the tech sector.

The benchmark Nikkei 225 index was down 0.13 percent, or 36.02 points at 26,712.12 in early trade, while the broader Topix index was down 0.08 percent, or 1.56 points, at 1,876.70.

“Falls in US high-tech shares and a stronger yen against the dollar are weighing on the market,” Mizuho Securities said in a note.

Ahead of minutes of the US Federal Reserve’s May meeting, “a wait-and-see attitude may grow” in later trade, it added.

The dollar fetched 126.68 yen in early Asian trade, against 126.86 yen in New York on Tuesday.

Among major shares in Tokyo, ANA Holdings was down 1.19 percent at 2,486, despite comments by its chief executive that recovery in inbound tourists after the lifting of the restrictions would likely boost revenue.

Its rival Japan Airlines was down 0.84 percent at 2,230 yen.

Sony Group dropped 1.19 percent to 11,235 yen, Hitachi fell 1.22 percent to 6,545 yen, and Fujitsu was off 1.45 percent at 19,330 yen.