TOKYO, April 21 ― Tokyo stocks opened lower today, tracking falls on Wall Street as investor sentiment worsened on plunging oil prices.
The benchmark Nikkei 225 index was down 0.96 per cent or 188.84 points at 19,480.28 in early trade, while the broader Topix Index fell 0.94 per cent or 13.46 points to 1,418.95.
“Japanese shares are seen led by sell orders against the backdrop of falls in the US market” which was weighed down by aftershocks of an unprecedented slump in oil prices into negative territory, said Yoshihiro Ito, chief strategist at Okasan Online Securities.
Nintendo was down 1.02 per cent at ¥45,460 (RM1,854) after a report said the game giant is set to increase production of its Switch game console to meet surging stay-at-home demand.
ANA Holdings was down 1.73 per cent at ¥2,440 after it slashed its annual net profit forecast by 71 per cent over massive falls in demand and major cancellations caused by the coronavirus spread.
Other major shares were mostly lower, with market heavyweight Fast Retailing slipping 1.61 per cent to ¥48,940, chip-making equipment manufacturer Tokyo Electron dropping 2.00 per cent to ¥22,780 and Sumitomo Mitsui Financial losing 1.68 per cent to ¥2,668.5.
The dollar fetched ¥107.67 in early Asian trade, against ¥107.67 in New York late yesterday.
On Wall Street, the Dow declined 2.4 per cent to finish the session at 23,650.44, after the price for US benchmark West Texas Intermediate crude for May delivery plunged to -US$37.63 a barrel. ― AFP
