Tokyo stocks open 1.53% lower


TOKYO: Tokyo stocks opened 1.53 percent lower on Friday after the greenback fell sharply ahead of the release of US employment data for May.

The benchmark Nikkei 225 index was down 197.61 points to 12,706.41 at the start.

The dollar stood at 97.32 yen in Tokyo early trade, compared with 97.07 yen in late Thursday in New York and 99.15 yen in Asian trade on Thursday.

The greenback at one point sunk as low as 95.88 yen in New York Thursday.

“The sharp dollar fall and continuing jitters over forthcoming US jobs data (due Friday) spell anxiety for Japan investors, which will offset all other concerns,” SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires.

The Nikkei index tumbled nearly 4 percent Wednesday and lost another 110.85 points to 12,904.02 on Thursday, closing below the 13,000 level for the first time in two months.

The volatile trading has become commonplace on Japan’s premier bourse since the market plunged 7.3 percent on May 23, sparking weeks of wild trading.

The euro bought $1.3240 and 128.95 yen early Friday against $1.3243 and 128.55 yen in US trade.

The Dow Jones Industrial Average gained 80.03 points (0.53 percent) at 15,040.62, after having lost as much as 116 points at mid-session.


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