Tokyo stocks open lower, weighed down by worries over China outlook

Tokyo stocks opened sharply lower Tuesday, with the Nikkei index falling below the 26,000 mark for the first time in about two months, as the market reflected concern over the adverse impact of China's stringent COVID-19 restrictions on the global economy.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 443.56 points, or 1.69 percent, from Monday to 25,875.78. The broader Topix index was down 32.26 points, or 1.72 percent, at 1,846.13.

On the top-tier Prime Market, decliners were led by mining, air transportation and nonferrous metal issues.

At 9 a.m., the dollar fetched 130.36-41 yen compared with 130.29-39 yen in New York and 131.20-21 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $1.0562-0566 and 137.69-77 yen against $1.0553-0563 and 137.45-55 yen in New York and $1.0511-0513 and 137.91-95 yen in Tokyo late Monday afternoon.

© Kyodo News