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Tokyo Stocks Open Lower After US Inflation Data

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Tokyo Stocks,US Inflation Data,Wall Street Shares

Tokyo stocks opened lower on Thursday after hotter-than-expected US inflation data drove down Wall Street shares, while the yen briefly hit a 34-year low.

This photo illustration taken on April 10, 2024 shows Japanese yen coins and 10,000 yen notes on display in Tokyo.

“With the looming return of the US dollar wrecking ball, Asian markets are poised to face significant downward pressure today,” said Stephen Innes of SPI Asset Management. “Current currency movements are rapid, and we want to take appropriate action against excessive movement without ruling out any means,” Masato Kanda, vice finance minister for international affairs, told reporters in Tokyo.

Tokyo Electron lost 1.27 percent to 38,790 yen. Fast Retailing, which announces its half-year results on Thursday, dropped 1.22 percent to 43,820 yen.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.

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