Tokyo stocks edge up as dip-buying capped by U.S. rate hike fears

Tokyo stocks opened slightly higher Monday, supported by dip-buying following declines late last week, but the upside was offset by lingering concern over prolonged U.S. interest rate hikes.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 3.67 points, or 0.01 percent, from Friday to 32,610.51. The broader Topix index was up 7.39 points, or 0.31 percent, at 2,366.41.

Gainers included bank, mining, and electric power and gas shares.

At 9 a.m., the U.S. dollar fetched 147.12-15 yen compared with 147.78-88 yen in New York and 147.38-41 yen in Tokyo at 5 p.m. Friday.

The...