Tuesday, 10 January 2017

Asian stocks lower; Nikkei slips 0.2%, Kospi off 0.3%

Asian markets started Tuesday on the back foot, after the Dow retreated further from the 20,000 mark and oil prices plunged as much as 4 percent overnight. Australia's ASX 200 was down 0.46 percent in early trade, weighed heavily by losses in its energy sub-index as oil prices plunge. Japanese benchmark Nikkei 225 opened down 0.2 percent, like due to the yen's strength. 

Shares of Toyota were down 0.14 percent to 6,922 yen each, after its North American Chief Executive Jim Lentz announced on Monday that it would invest USD 10 billion over the next five years in the US to meet demand and upgrade plants and build more fuel-efficient models. The Japanese automaker has recently been criticized by President-elect Donald Trump on Twitter for shifting the production of its Corolla to Mexico from Canada.

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