Tokyo stocks open lower amid concerns over financial crisis

Tokyo stocks opened lower Monday, weighed down by persistent concerns about recent financial turmoil involving banks in the United States and Europe.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 56.20 points, or 0.21 percent, from Friday to 27,277.59. The broader Topix index was down 6.72 points, or 0.34 percent, at 1,952.70.

Decliners were led by marine transportation, land transportation, and warehousing and harbor transportation service shares.

At 9 a.m., the U.S. dollar fetched 132.28-29 yen compared with 131.80-90 yen in New York and 133.01-03 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.0679-0683 and 141.26-33 yen against $1.0661-0671 and 140.54-64 yen in New York and $1.0661-0662 and 141.81-85 yen in Tokyo late Friday afternoon.

© Kyodo News