TOKYO, Jan 25 ― Tokyo stocks opened lower today with investors remaining cautious over geopolitical risks linked to Ukraine and the US Federal Reserve's decision later this week.
The benchmark Nikkei 225 index was down 0.51 per cent, or 140.42 points, at 27,447.95 in early trade, while the broader Topix index lost 0.63 per cent, or 12.17 points, to 1,917.70.
After modest Wall Street rallies, “Japanese shares are seen starting with sell orders on concerns over Ukraine, with a wait-and-see attitude expected to grow later ahead of” a two-day Fed meeting where policymakers are expected to set the stage for raising the lending rate in March.
US President Joe Biden declared “total” unity among Western powers yesterday after crisis talks with European leaders on deterring Russia from an attack against Ukraine and 8,500 US troops were put on standby for possible deployment to boost Nato.
The dollar fetched ¥113.96 in early Asian trade, against ¥113.98 in New York late yesterday.
In Tokyo, Toyota was down 0.99 per cent to ¥2,256 after the automaker extended and revised its virus-linked temporary suspension of domestic plants.
Nissan was up 1.92 per cent at ¥611.4 and its smaller partner Mitsubishi Motors was up 0.64 per cent at ¥313 after a report said Renault, Nissan, and Mitsubishi will on Thursday announce their plans to triple joint EV investments.
Sony Group was trading down 0.35 per cent at ¥12,790 after Sony Music Entertainment said Bob Dylan sold his entire back catalogue of recorded music along with “the rights to multiple future new releases” to the company, the latest high-profile deal of the recent music rights purchasing rush.
Sony did not disclose the financial terms of the deal. ― AFP
