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Tokyo: Stocks open 0.39% lower

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[TOKYO] Tokyo stocks fell 0.39 per cent early Friday as US shares declined consecutively for three days on weak corporate earnings.

The Nikkei 225 index at the Tokyo Stock Exchange lost 80.32 points to 20,603.63 at the start.

On Thursday, Wall Street stocks dropped for a third straight day on the back of disappointing earnings from major players including Caterpillar and American Express.

The Dow Jones Industrial Average fell 0.67 per cent. The broad-based S&P 500 dropped 0.57 per cent, while tech-rich Nasdaq Composite Index lost 0.49 per cent.

American Express slid 2.5 per cent, while Caterpillar declined by 3.6 per cent following earnings reports.

In Tokyo forex trade, the dollar was at 123.92 yen early Friday, slightly up from 123.90 yen in New York late Thursday.

The euro edged up to US$1.0990 and 136.14 yen from US$1.0985 and 136.10 yen in US trade.

AFP