Tokyo, (UrduPoint / Pakistan Point News - 28th Dec, 2022 ) :Tokyo shares opened lower on Wednesday, taking cues from US tech shares that headed south in thin holiday trading.
The benchmark Nikkei 225 index lost 0.50 percent, or 131.07 points, to 26,316.80 at the open, while the broader Topix index slipped 0.11 percent, or 2.15 points, to 1,908.00.
The Dollar stood at 133.68 yen, compared with 133.44 Yen on Tuesday in New York.
Semiconductor shares soured after the tech-rich Nasdaq lost 1.4 percent while the Dow edged up 0.1 percent.
Global investors remained cautious as US yields trended higher, particularly worrying technology companies, which generally rely on debt financing more than industrial companies.
The Tokyo market opened softer as "US shares ended mixed. That is not providing a fresh buying incentive," online brokerage Monex said in a note.
Global investors also continued to digest the news that China was ending its strict quarantine rules for overseas arrivals, opening its economy while also boosting hopes among global tourism businesses.
While the move will once again open China as a global supplier of low-cost goods and should ease supply chain bottlenecks, the nation's robust demand for raw materials and energy will push up commodity prices, analysts said.
"Indeed, reopening is rekindling some inflationary spirits," Stephen Innes of SPI Asset Management said in a note.
"While a full China reopening could provide a much-needed and timely boost to the global...
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