Tokyo stocks open lower after U.S. bank collapse

Tokyo stocks opened lower Monday, led by financial issues after tech-focused U.S. lender Silicon Valley Bank collapsed late last week.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 309.06 points, or 1.10 percent, from Friday to 27,834.91. The broader Topix index was down 28.79 points, or 1.42 percent, at 2,002.79.

Decliners were led by bank, insurance and securities house shares.

At 9 a.m., the U.S. dollar fetched 134.92-95 yen compared with 135.05-15 yen in New York and 136.40-43 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.0680-0684 and 144.09-18 yen against $1.0634-0644 and 143.70-80 yen in New York and $1.0594-0595 and 144.52-56 yen in Tokyo late Friday afternoon.

© Kyodo News