Tokyo stocks open lower as Wall Street declines on oil price worry

© Kyodo News

Tokyo stocks opened lower Tuesday, tracking overnight losses on Wall Street driven by increased concerns over the adverse impact of higher fuel costs on the economy after U.S. oil futures climbed to their highest level in seven years.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average shed 133.55 points, or 0.47 percent, from Monday to 28,364.65. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 8.15 points, or 0.41 percent, at 1,988.43.

Decliners were led by air transportation, information and communication, and retail issues.

At 9 a.m., the dollar fetched 113.37-38 yen compared with 113.25-35 yen in London at 4 p.m. and 112.78-80 yen in Tokyo at 5 p.m. Monday. U.S. currency and bond markets were closed Monday for a national holiday.

The euro was quoted at $1.1553-1554 and 131.00-04 yen against $1.1570-1580 and 131.05-10 yen in London and $1.1574-1575 and 130.53-57 yen in Tokyo late Monday afternoon.