Tokyo: Stocks open down 0.42%

[TOKYO] Tokyo stocks opened 0.42 per cent lower Thursday as the yen edged up against the dollar in subdued trade ahead of the US Thanksgiving holiday.

The Nikkei 225 index at the Tokyo Stock Exchange was down 73.09 points to 17,310.49 at the start.

Japanese shares are likely to trade in a narrow range Thursday, with US markets closed for the Thanksgiving holiday and open for shortened trading hours on Friday, traders said.

"The lack of a US market influence will sap much of the energy from Japan stock trading, which itself is lacking incentives now that earnings reporting season is essentially over," said Mutsumi Kagawa, senior global strategist at Tokai Tokyo Research Center.

The dollar was at 117.65 yen early Thursday, compared with 117.72 yen in New York Wednesday afternoon.

The euro bought US$1.2505 and 147.13 yen against US$1.2506 and 147.22 yen in US trade.

Takata shares tumbled 6.41 per cent to 1,270 yen in the first few minutes of trade after US regulators on Wednesday pressured the auto parts maker to expand its recall of potentially defective airbags across the United States, or risk up to US$35 million in financial penalties.

On Wall Street the Dow and S&P 500 Wednesday edged higher to new records following a stream of mixed US economic data.

The Dow Jones Industrial Average rose 0.07 per cent to 17,827.75, while the broad-based S&P 500 advanced 0.28 per cent to 2,072.83.

AFP