Tokyo stocks open lower as yen firms

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Tokyo - Tokyo stocks opened lower on Thursday as the yen edged up against the dollar on higher oil prices, with lingering concerns about the potential delay of a US-North Korea summit.

The benchmark Nikkei 225 index fell 0.21% or 48.48 points to 22 641.26 in early trade while the broader Topix index was down 0.31% or 5.54 points at 1 791.77.

The dollar fetched ¥109.71 in early Asian trade, down from ¥110.12 in New York late on Wednesday.

"Japanese shares are seen weighed down by concerns that the summit between the US and North Korea may be postponed, and a higher yen against the dollar with the backdrop of higher oil prices," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.

The fall came after Wall Street swung to a positive finish on Wednesday, with stocks boosted by Federal Reserve minutes that said the central bank may be willing to let inflation run slightly higher.

In Tokyo, game giant Nintendo was down 2.27% at ¥42.540, while Toyota was down 1.47% at ¥7 326.

Banks were also lower, with Mitsubishi UFJ down 1.57% at ¥701.1 and Sumitomo Mitsui Financial down 1.28% at ¥4 611.

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