TOKYO: Tokyo’s blue-chip shares opened lower on Monday, influenced by declines in US tech stocks. However, the strength of the dollar provided support for Japanese exporters.
The benchmark Nikkei 225 index started the day with a 0.14 percent decline, shedding 44.51 points to reach 32,429.14. Meanwhile, the broader Topix index experienced a modest 0.08 percent increase, adding 1.93 points to stand at 2,305.44.
Tokyo Market Under Pressure
The Tokyo market appeared to be under pressure following the 0.6 percent loss in the Nasdaq on Friday, coupled with a 0.3 percent gain in the Dow.
According to brokerage firm Monex, the Tokyo market was expected to begin within a narrow range due to the lack of clear direction from the US markets. Monex stated, “A key now is whether the Nikkei average can test 32,500 by using the cheap yen and other supporting factors.”
The yen exhibited its weakest level against the dollar since November, trading at 145.10 yen on Monday morning. This marked an increase from the 144.93 yen observed on Friday in New York.
