Tokyo, Sept 27, 2023 (AFP)
Tokyo stocks opened lower on Wednesday after falls on Wall Street as weak consumer data prompted worries over the impact of elevated interest rates on growth.
The benchmark Nikkei 225 index was down 0.94 percent, or 302.37 points, at 32,012.68 in early trade, while the broader Topix index lost 0.79 percent, or 18.83 points, to 2,353.11.
The Japanese market "is expected to start with declines following falls in US shares", Monex analyst Toshiyuki Kanayama said, adding that dividend-related purchases could support the market later.
The dollar stood at 149.03 yen in early Asian trade, against 149.08 yen in New York late Tuesday.
Overnight, Wall Street stocks fell after a bigger-than-expected drop in US consumer confidence added to unease over how high interest rates could weigh on the world's biggest economy.
The blue-chip Dow Jones Industrial Average fell 1.1 percent to 33,618.88, the broad-based S&P 500 1.5 percent, while the tech-rich Nasdaq lost 1.6 percent.
"Investors continue to grapple with the implications of an extended period of elevated interest rates and the potential economic repercussions," Stephen Innes, managing partner of SPI Asset Management, said.
"Heightened investor anxiety due to the looming possibility of a partial US government shutdown is not helping matters," he added.
In Tokyo, automakers were lower, with Honda trading down 2.56 percent at 5,108 yen, Nissan down 2.77 percent at 659.8 yen, while their bigger rival Toyota was off 0.81 percent at 2,694.5 yen.
Electronic parts maker Murata Manufacturing was off 2.08 percent at 7,985 yen. Trading house Itochu was down 1.80 percent at 5,550 yen.
Market heavyweight and Uniqlo operator Fast Retailing was down 1.81 percent at 33,050 yen.

Sumber : AFP