TOKYO, Nov 2 ― Tokyo stocks opened lower today on profit-taking after a strong rally in the previous session with trade remaining cautious ahead of a public holiday.
“Japanese shares are starting with losses after a sharp increase in the previous session,” said Toshiyuki Kanayama, senior market analyst at Monex, as investors cheered general election results showing a victory for Prime Minister Fumio Kishida. The dollar fetched ¥114.01 in early Asian trade, little changed from ¥114.00 in New York late Monday.
Japan Airlines was up 1.34 per cent at ¥2,490 ahead of its earnings report due after market close, while its rival ANA Holdings was up 1.59 per cent at ¥2,710.5 as a report said entry restrictions would be lifted for foreign students and short-term business travellers.