URGENT: Tokyo stocks down on U.S. rate hike prospect, yield hits 9-yr high
Tokyo stocks extended their losses Thursday morning amid fears of prolonged U.S. monetary tightening, while the 10-year Japanese government yield hit its highest level in over nine years.
The yield on 10-year Japanese government bonds rose to 0.650 percent, the highest level since April 2014.
The 225-issue Nikkei Stock Average fell 463.61 points, or 1.42 percent, from Wednesday to 32,244.08. The broader Topix index was down 26.77 points, or 1.16 percent, at 2,274.99.
On the top-tier Prime Market, decliners were led by nonferrous metal, rubber product and transportation equipment issues.