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Tokyo stocks open 0.75% lower on Friday

Published on Jul 11, 2014 8:59 AM

TOKYO (AFP) - Tokyo stocks opened 0.75 per cent lower on Friday after a scare over a Portuguese bank sent Wall Street lower and boosted the yen.

The Nikkei 225 index was down 113.88 points at 15,102.59 at the start.

"Investors have gone more 'risk-off' in light of how fully valued many global stock markets have become and how vulnerable they are to potential sell-offs," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.

The yen, often considered a safe haven in financial turmoil, rose as the Portuguese bank scare spread.

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