TOKYO, Jan 20, 2022 (BSS/AFP) - Tokyo's key Nikkei index opened slightly
lower on Thursday after falling nearly three percent in the previous session
but with some support from bargain-hunting purchases.

   The benchmark Nikkei 225 was down 0.16 percent or 42.90 points at
27,424.33 in early trade, while the broader Topix index gained 0.11 percent
or 2.18 points to 1,921.90.

   Tokyo trade will remain range-bound "as concerns over US inflation and
monetary tightening are weighing on the market, while some investors may seek
bargain-hunting after the Nikkei index fell below the 28,000 mark," Mizuho
Securities said in a note.

   Wall Street stocks tumbled again overnight as markets grapple with the
prospect of higher interest rates.

   The dollar fetched 114.39 yen in early Asian trade, against 114.33 yen in
New York late Wednesday.

   Among major shares in Tokyo, Sony Group rebounded 4.43 percent to 12,960
yen after dropping nearly 13 percent in the previous session on news of
Microsoft's plans to buy US gaming giant Activision Blizzard.

   Hitachi was down 0.61 percent at 6,345 yen after its CEO reportedly said
the engineering giant is ready to sell its 40 percent stake in Hitachi
Transport System but wants to find the right industry partner.

   Among other shares, Toyota was up 0.98 percent at 2,325.5 yen while
Panasonic was off 0.93 percent at 1,281 yen.

   Japan booked a trade deficit of 582.4 billion yen ($5.1 billion) in
December, against market expectations of a 787.6 billion deficit, according
to data released by the finance ministry before the opening bell.

   In 2021, the world's third-largest economy recorded a trade deficit of
1.47 trillion yen -- the first annual deficit in two years -- as a rise in
raw material prices including crude oil and LNG overwhelmed an increase in
the export of industrial goods such as automobiles and steel.

   The data did not prompt a strong market reaction.