Tokyo stocks open lower as exporters hit by stronger yen

Tokyo stocks opened lower Friday as investors sold export-related issues on the back of a stronger yen against the U.S. dollar.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 121.85 points, or 0.44 percent, from Thursday to 27,297.76. The broader Topix index was down 9.39 points, or 0.48 percent, at 1,947.93.

Decliners were led by insurance, bank and real estate shares.

At 9 a.m., the dollar fetched 130.87-88 yen compared with 130.78-88 yen in New York and 130.90-92 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.0833-0837 and 141.77-83 yen against $1.08...