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Tokyo's Nikkei opens down nearly 2% after Wall Street rout

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Tokyo's key Nikkei index opened down nearly 2 per cent on Thursday after Wall Street shares nosedived on fears for the global economy.

[TOKYO] Tokyo's key Nikkei index opened down nearly 2 per cent on Thursday after Wall Street shares nosedived on fears for the global economy.

The Nikkei 225 index was down 1.93 per cent or 398.51 points at 20,256.62 in early trade, while the broader Topix index dropped 2.01 per cent or 30.14 points to 1,469.36.

"The Japanese stock market is sliding against the backdrop of sharp falls in US shares," Okasan Online Securities said in a note.

"Worries over the US economic recession grew, while negative economic data for China and Germany also prompted investors to downgrade their views on the global economy," Mizuho Securities added.

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The dollar fetched 105.91 yen in early Asian trade, against 105.78 yen in New York.

Tokyo shares were down across the board, with Toyota down 1.85 per cent at 6,726 yen, Nissan down 2.18 per cent at 648 yen, and Sony off 2.51 per cent at 5,766 yen.

On Wall Street, the Dow ended down 3.1 per cent at 25,479.42.

AFP