You are here

Tokyo: Stocks open 0.22% lower

tstock307.jpg

[TOKYO] Tokyo shares opened 0.22 per cent lower on Friday after US stocks lost ground following a mixed US jobs report, while investors awaited the outcome of a Greek debt crisis referendum.

The Nikkei 225 index at the Tokyo Stock Exchange declined 45.81 points to 20,476.69 at the start.

On Wall Street, the Dow Jones Industrial Average shed 0.16 per cent on Thursday to end a holiday-shortened week following mixed US payroll figures last month.

The US Labor Department reported that the US economy added a solid 223,000 jobs in June. However, the report also said hourly earnings were flat compared with May and cut the estimates for job growth in April and May.

A strong reading would have lifted expectations that the US Federal Reserve will raise interest rates soon.

Meanwhile, traders looked ahead to Sunday's Greek referendum on official creditor proposals that could decide the nearly insolvent European Union country's political and financial future.

The dollar was at 123.05 yen early Friday, slightly down from 123.07 yen in New York late Thursday.

A strong yen is negative for Japanese exporters as it makes them less competitive abroad and decreases profits when repatriated.

The euro fetched US$1.1085 and 136.41 yen against US$1.1086 and 136.43 yen in US trade.

AFP