Tokyo: Stocks open down 1.20%

TOKYO

Tokyo stocks opened 1.20 per cent lower on Friday after Wall Street bourses plunged amid heightened global growth concerns.

The Nikkei 225 index at the Tokyo Stock Exchange lost 186.05 points to 15,292.88 at the start.

On Thursday, Wall Street stocks tumbled, losing about two percent in a broad sell-off, as weak economic data from Germany heightened concerns about poor overseas growth.

At the market close, the Dow Jones Industrial Average stood at 16,659.25, down a heavy 1.97 per cent, while the broad-based S&P 500 shed 2.07 per cent at 1,928.21.

"The growth concerns are certainly legitimate, and the US has appeared to be the sole bastion of macro-economic health in the world. But even that may not be as legitimate as advertised," says Barclays equity strategist Hajime Kitano.

The dollar was at 107.86 yen early Friday, compared with 107.84 yen in New York Wednesday afternoon.

The euro bought US$1.2685 and 136.81 yen against US$1.2691 and 136.87 yen in US trade.

- AFP