Tokyo stocks open lower ahead of long weekend

Tokyo stocks open lower ahead of long weekend

The benchmark Nikkei 225 index was down 0.60 per cent or 152.94 points at 25,481.40 in early trade

Representative Image. Credit: Reuters Photo

Tokyo stocks opened lower on Friday in cautious trade ahead of a long weekend, with continued worries about rising coronavirus cases.

The benchmark Nikkei 225 index was down 0.60 per cent or 152.94 points at 25,481.40 in early trade, while the broader Topix index slipped 0.38 per cent or 6.50 points to 1,719.91.

"Trade is seen dominated by a wait-and-see attitude ahead of three days of holidays, after modest gains in the US market," senior market analyst Toshiyuki Kanayama of Monex said in a commentary.

Wall Street stocks snapped a two-session skid as optimism over revived US stimulus talks countered worries about higher coronavirus cases.

But the Dow Jones Industrial Average added just 0.2 per cent at 29,483.23, after many bourses elsewhere in the world ended in negative territory on concerns over the coronavirus.

The subdued trade in Tokyo comes a day after Japan's prime minister said the country is on "maximum alert" after logging a record number of daily coronavirus infections, though no immediate restrictions are planned.

Among major shares in Tokyo, Uniqlo casual wear operator Fast Retailing was down 3.37 per cent at 81,280 yen, Sony was off 1.17 per cent at 9,141 yen, and chip-testing equipment manufacturer Advantest was down 0.99 per cent at 6,970 yen.

The dollar fetched 103.79 yen in early Asian trade, against 103.72 yen in New York late Thursday.

Japan's core consumer price index, which excludes fresh food, was down 0.7 per cent year-on-year in October, according to data released by the internal affairs ministry before the opening bell.

The figure was in line with market expectations.