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  • Tokyo stocks opened lower on Tuesday as investors locked in profits after three days of rallies, with investors digesting the new government to be formed later this week. The benchmark Nikkei 225 index was down 0.44 percent or 103.06 points at 23,456.24 in early trade, while the broader Topix index edged down 0.41 percent or 6.85 points to 1,644.25. Early trade in Tokyo "is seen dominated by profit-taking sales, but expectations for the new government are unexpectedly high, contributing to a sound atmosphere in the market," Okasan Online Securities said in a commentary. The dollar fetched 105.66 yen in early Asian trade, against 105.73 yen in New York late Monday. Among major shares in Tokyo, Nippon Steel was down 3.50 percent at 1,132 yen, Japan Airlines was down 2.55 yen at 2,213 yen, and Canon was down 2.51 yen at 1,784 yen. Hitachi was down 0.98 percent at 3,726 yen after a report said it will withdraw from a stalled British power project, which a company spokeswoman declined to confirm. Hitachi suspended the three trillion yen ($28 billion) project to build two nuclear power reactors on Anglesey Island off northwest Wales in January 2019, saying the project was not commercially viable. Last month, the engineering company said it was in contact with the UK government over conditions for the project, including new financing models for the nuclear industry. On Wall Street, the Dow ended up 1.2 percent at 27,993.33. kh/sah/axn
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  • Tokyo stocks open lower on profit-taking
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