Tokyo stocks open flat amid U.S. rate hike concerns, dip-buying

Tokyo stocks were almost flat early Wednesday, after selling was offset by buying on dips amid concerns over prolonged U.S. interest rate hikes.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 2.16 points, or 0.01 percent, from Tuesday to 31,858.87. The broader Topix index was down 1.51 points, or 0.07 percent, at 2,264.20.

Gainers include electric power and gas, and land transportation shares, while decliners included bank and insurance issues.

At 9 a.m., the U.S. dollar fetched 145.77-80 yen compared with 145.83-93 yen in New York and 145.75-77 yen in Tokyo at 5 p...