Tokyo stocks open lower as gains locked in after 3-day rally

© Kyodo News

Tokyo stocks opened sharply lower Friday, tracking overnight losses on Wall Street, as investors locked in gains following a three-day rally of the Nikkei index.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 481.22 points, or 1.75 percent, from Thursday to 27,071.84. The broader Topix index was down 25.95 points, or 1.35 percent, at 1,902.05.

On the top-tier Prime Market, decliners were led by precision instrument, nonferrous metal and service issues.

At 9 a.m., the dollar fetched 128.43-46 yen compared with 128.32-42 yen in New York and 128.02-03 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.0833-0837 and 139.13-21 yen against $1.0826-0836 and 139.01-11 yen in New York and $1.0927-0928 and 139.89-93 yen in Tokyo late Thursday afternoon.