Tokyo stocks open sharply lower on worries over COVID surge in China

© Kyodo News

Tokyo stocks opened sharply lower Wednesday, with the Nikkei index falling more than 2 percent, stirred by concern over the possibility of additional COVID-19 lockdowns in China and the impact on the global economy.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 619.38 points, or 2.32 percent, from Tuesday to 26,080.73. The broader Topix index was down 34.76 points, or 1.85 percent, at 1,843.75.

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

At 9 a.m., the dollar fetched 127.25-28 yen compared with 127.15-25 yen in New York and 127.87-89 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.0642-0643 and 135.42-46 yen against $1.0632-0642 and 135.30-40 yen in New York and $1.0676-0677 and 136.52-56 yen in Tokyo late Tuesday afternoon.