Tokyo stocks open lower


A group of Japanese men and women in ceremonial kimonos ride a roller coaster to celebrate the Coming of Age Day which marks their official entry into the adulthood

TOKYO, Japan (Reuters) -- Tokyo stocks wilted in morning trade on Tuesday after the tech-laden U.S. Nasdaq extended its recent falls and slipped below the key 2,000 level.

The tech-sensitive Nikkei average lost 1.73 percent to 10,260.68 by mid-morning, while the capital-weighted Topix lost 1.70 percent at 982.95.

A fall in U.S. technology issues took a toll on their Japanese counterparts, including Sony Corp.

Sony fell 5.0 percent to 6,080 yen, adding to a 2.29 percent drop in the previous session.

Analysts also warned that credit concerns on individual firms would also weigh on the market.

On Sunday, home builder Shokusan Jutaku Sogo Co Ltd said it had filed for court protection from creditors with debts of 13.5 billion yen ($102.4 million). It was the first listed firm to go under this year.

BOJ not expected to budge

Its shares were at one yen, down 97 percent from the previous close. Shokusan had already dropped 6.25 percent to 30 yen on Friday since it was rumored to be on the verge of failure.

The Tokyo Stock Exchange has moved Shokusan shares to the liquidation section before delisting on April 14.

The Bank of Japan, at its two-day board meeting starting on Tuesday, is widely expected to keep its monetary policy unchanged after a loosening at the previous meeting last month.

Japanese financial markets were closed on Monday for the Coming of Age Day holiday, when 20-year-olds officially become adults.

Markets also opened lower in South Korea, where the Kospi was down sharply, off 2.2 percent at 727.52 in mid-morning trade.

Singapore and Australia were also down, with New Zealand stocks narrowly in the black in afternoon trade.

Taiwan's Taiex was gaining, though, up 0.29 percent in early going at 5,628.08.