Tokyo stocks open lower as ECB indicates no further rate cuts

Tokyo, March 11 (IANS) Tokyo stocks opened lower on Friday after the European Central Bank rolling out new stimulus measures failed to buoy the mood, as the central bank indicated further rate cuts were not on the cards.

As of 9:15 a.m., the 225-issue Nikkei Stock Average dropped 251.03 points, or 1.49 percent, from Thursday to 16,601.32, Xinhua reported.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 16.74 points, or 1.24 percent, to 1,335.43.

All industry categories on the main section dropped into negative territory, with mining, machinery, and nonferrous metal-linked stocks comprising the market’s early notable decliners.

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