Tokyo stocks down

Tokyo stocks opened lower today after a report by UN weapons inspectors left traders jittery.

The benchmark 225-issue Nikkei Stock Average opened down 77.94 points, or 0.91%, at 8,531.53. On Monday, the index lost 122.18 points, or 1.4%, falling to 8,609.47.

Investors were wary of what a US attack on Iraq would do to global financial markets. A report from UN weapons inspectors, citing a lack of Iraqi cooperation and requesting more time for inspections, did little to calm investors overnight.

Taking a cue from Wall Street, which dived steeply last night, Tokyo stocks were in decline this morning, led by major exporters.

Analysts also expected a sell off of technology issues, including Fujitsu, Sony, and Toshiba, amid dim prospects for earnings announcements expected out later this week.

The broader Tokyo Stock Price Index of all issues on the exchange’s first section opened down 5.85 points, or 0.69%, at 844.18. The TOPIX lost 11.13 points, or 1.29%, to close at 850.03 on Monday.