Tokyo stocks open lower on weak U.S. tech shares, crude oil rise

© Kyodo News

Tokyo stocks opened lower Thursday, tracking overnight losses on the technology-heavy U.S. Nasdaq index, while a rise in crude oil futures to a seven-year high weighed on the market on concerns over its effects on domestic corporate profits.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 185.81 points, or 0.64 percent, from Wednesday to 29,069.74. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 7.58 points, or 0.37 percent, at 2,020.09.

Decliners were led by air transportation, electric appliance, and precision instrument issues.

At 9 a.m., the dollar fetched 114.37-38 yen compared with 114.30-40 yen in New York and 114.34-36 yen in Tokyo at 5 p.m. Wednesday.

The euro was quoted at $1.1652-1652 and 133.27-34 yen against $1.1645-1655 and 133.14-24 yen in New York and $1.1624-1625 and 132.91-95 yen in Tokyo late Wednesday afternoon.