Tokyo: Stocks open 0.27% lower

[TOKYO] Tokyo stocks opened 0.27 per cent lower on Tuesday following a negative lead from US and European markets on concern about deadlocked Greek debt talks.

The Nikkei 225 index at the Tokyo Stock Exchange dropped 54.96 points to 20,332.83 at the start.

European stocks fell sharply on Monday after weekend talks between Greece and creditors collapsed.

US stocks were in the red all day as well, with the Dow Jones Industrial Average closing down 0.60 per cent.

The euro held up on Monday despite the negative news on Greece, as fresh US industrial output data disappointed.

Early Tuesday, the 19-nation currency bought US$1.1275 and 139.11 yen, marginally down from US$1.1285 and 139.23 yen in New York late Monday.

The dollar was at 123.42 yen against 123.38 yen in US trade.

AFP