News Column

Tokyo stocks open lower on dismal GDP reading

August 12, 2014

Tokyo stocks opened slightly lower Wednesday in the wake of the release of data showing the Japanese economy shrank an annualized real 6.8 percent in the April to June quarter.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 20.29 points, or 0.13 percent, from Tuesday to 15,141.02. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 1.53 points, or 0.12 percent, to 1,256.16.

The weak opening also came after overnight declines in U.S. shares.

Sharp losses in the Tokyo market were, however, prevented as the economic contraction was roughly in line with earlier expectations.

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Source: Japan Economic Newswire

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