You are here

Tokyo: Stocks open slightly lower


[TOKYO] Tokyo stocks opened slightly lower on Tuesday with investor sentiment weighed down by uncertainty over the Greek debt deal.

The Nikkei 225 index at the Tokyo Stock Exchange slipped 12.68 points, or 0.06 per cent, to 19,608.23 at the start.

In New York the Dow Jones Industrial Average closed 0.47 per cent lower on Monday as investors eyed tough negotiations between Greece and international creditors.

Eurozone finance ministers in a meeting in Brussels failed to reach an agreement on debt-riddled Greece's bid for bailout funds to avoid default.

They held a tough line, saying Greece could not hope for any of the 7.2-billion-euro (S$10.7 billion) final payment of its 240-billion-euro bailout from the European Union and the International Monetary Fund until it makes key reforms.

In Tokyo trading in individual stocks, Sharp turned up 2.63 per cent to 195 yen in the first few minutes of the session after plunging 26.35 per cent on Monday on worries over a possible capital reduction and issuance of preferred shares.

Toshiba, which lost 16.55 per cent on Monday, fell another 5.53 percent to 381.0 yen due to accounting problems on a number of infrastructure projects.

The euro stayed weak early Tuesday, buying US$1.1147 and 133.91 yen early Tuesday compared with US$1.1154 and 133.97 yen in New York late Monday.

The dollar was at 120.10 yen against 120.11 yen in US trade.