Tokyo stocks open lower on profit-taking after recent 34-yr highs

Economy

Tokyo stocks opened slightly lower Wednesday, as investors locked in gains after the key Japanese indexes recently rallied at 34-year highs.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 130.04 points, or 0.36 percent, from Tuesday to 36,387.53. The broader Topix index was down 5.82 points, or 0.23 percent, at 2,536.25.

On the top-tier Prime Market, decliners were led by construction, real estate and land transportation issues.

At 9 a.m., the U.S. dollar fetched 148.22-25 yen compared with 148.31-41 yen in New York and 147.57-59 yen in Tokyo at 5 p.m. Tuesday.

The...

Kyodo News

Kyodo News