TOKYO, Japan (AFP) — Tokyo stocks opened lower on Monday in cautious trade ahead of the Bank of Japan’s two-day meeting, after US stocks closed down on lower-than-expected US growth data.
The benchmark Nikkei 225 index was down 0.46 percent, or 105.45 points, at 22,607.30 in early trade, while the broader Topix index slipped 0.26 percent, or 4.59 points, to 1,771.17.
“Investors are seen taking to the sidelines ahead of the Bank of Japan’s policy meeting” through Tuesday, SBI Securities said in a commentary.
“Individual shares with expectations of brisk earnings reports are options left” for investors who want to buy, it added.
Local media reports over the weekend said the central bank is likely to lower its forecast for inflation in the current and next fiscal year, potentially making minor changes to its massive easing policy.
The dollar fetched 110.97 yen in Asian trade, against 111.00 yen in New York late Friday.
Wall Street stocks on Friday finished the week on a downbeat note, with the tech-heavy Nasdaq sinking 1.5 percent and the Dow closing down 0.3 percent on worries that US economic growth has peaked.
In Tokyo on Monday, Sony was down 0.97 percent at 5,908 yen and Toyota was down 0.18 percent at 7,444 yen.
© Agence France-Presse
