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Tokyo: Stocks open 0.52% lower

[TOKYO] Tokyo stocks opened 0.52 per cent lower on Wednesday following drops on Wall Street and a breather in the dollar's rise against the yen.

The Nikkei 225 index at the Tokyo Stock Exchange lost 98.38 points to 18,716.78 at the start.

Tokyo stocks are prone to selling to lock in profits after the recent gains to 15-year highs.

The dollar eased to 119.60 yen early Wednesday from 119.74 yen in New York Tuesday afternoon.

The euro bought US$1.1182 and 133.77 yen against US$1.1178 and 133.85 yen in US trade.

Wall Street stocks retreated from record peaks Tuesday, losing ground after lacklustre US auto sales.

The Dow Jones Industrial Average fell 0.47 per cent to 18,203.37 while the broad-based S&P 500 sank 0.45 per cent to 2,107.78.


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