HONG KONG - TOKYO'S Nikkei extended its decline on Tuesday as investors worried about recent disappointing economic data, but overall, stocks and currencies struggled for direction with Wall Street closed for a holiday on Monday.
Investors were also holding back ahead of a batch of key US data due this week including the influential non-farm payrolls. Weak data will bolster expectations of a Federal Reserve interest rate cut at its next meeting later this month.
'The worst from the US subprime mortgage crisis appears to be over, and the main question left is whether the Fed will lower interest rates at its Sept 18 meeting,' said Kim Hak Kyun, an analyst at Korea Investment and Securities.
TOKYO
Japanese stocks opened down 0.48 per cent on Tuesday, with shares of exporters such as Sony sold.
The benchmark Nikkei average was down 0.33 per cent or 56.41 points at 16,468.52 as of 8.06am Singapore time.
The broader Topix index lost 0.2 per cent or 2.98 points to 1,602.46.
KUALA LUMPURThe Kuala Lumpur Composite Index opened higher by 3.72 points to 1,287.86.
-- REUTERS
Source: The Straits Times: 4th Sept 07
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