Tokyo stocks open lower as gains locked in after 3-day rally

Economy

Tokyo stocks opened sharply lower Friday, tracking overnight losses on Wall Street, as investors locked in gains following a three-day rally of the Nikkei index. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 481.22 points, or 1.75 percent, from Thursday to 27,071.84. The broader Topix index was down 25.95 points, or 1.35 percent, at 1,902.05. On the top-tier Prime Market, decliners were led by precision instrument, nonferrous metal and service issues. At 9 a.m., the dollar fetched 128.43-46 yen compared with 128.32-42 yen in New York and 128.02-03 yen in Tokyo at ...

Kyodo News

Kyodo News