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Home / International Markets / Tokyo stocks tumble 0.62% in early trade, Nikkei 225 drops 109.04pts
Tokyo stocks tumble 0.62% in early trade, Nikkei 225 drops 109.04pts

Tokyo stocks tumble 0.62% in early trade, Nikkei 225 drops 109.04pts

TOKYO: Tokyo stocks stated 0.62 percent weaker on Tuesday on early profit-taking following a decline in US markets and a powerful yen.
Moody’s Investors Service downgraded Japan’s sovereign debt rating by one notch to A1 from Aa3 on Monday, but its impact on Japanese stocks appears limited, brokers said.
The Nikkei 225 index at the Tokyo Stock Exchange was down 109.04 points, to 17,481.06 at the start.
“Stocks remain slightly overbought and sensitive to the dollar, so the Nikkei is likely in for a sluggish start,” says Shunichi Otsuka, general manager of research and strategy at Ichiyoshi Asset Management