Tokyo stocks open down on global inflation worry after oil price surge

Economy

Tokyo stocks opened lower Monday on concerns that the U.S. Federal Reserve will tighten its monetary policy, as well as worries over inflation and the impact of higher fuel costs on the global economy following a rise in crude oil futures. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 295.29 points, or 1.08 percent, from Friday to 27,144.70. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 14.93 points, or 0.77 percent, at 1,915.63. Decliners were led by marine transportation, metal product and precision instrument issues. A...

Kyodo News

Kyodo News