Japanese stocks open down 0.4 per cent

Tokyo, Sep 3: Tokyo stocks opened down 0.4 per cent on Monday after government data showed Japanese companies reduced spending on plant and equipment by 4.9 per cent in April-June, although economists had expected a rise.

Investors moved to take profits on stocks that posted big gains in the previous session, with electronic components maker TDK Corp down 1.2 percent after rallying nearly 5 per cent on Friday.

The benchmark Nikkei average was down 0.4 per cent or 72.49 points at 16,496.60 as of 0005 GMT. The broader TOPIX index lost 0.2 per cent or 3.48 to 1,604.77.

Reuters>