Tokyo stocks open lower on U.S. rate hike fears
Tokyo stocks opened lower Thursday amid concerns over prolonged monetary tightening in the United States after a Federal Reserve official indicated more interest rate hikes may be needed to contain inflation.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 293.19 points, or 0.91 percent, from Wednesday to 32,078.71. The broader Topix index was down 22.32 points, or 0.94 percent, at 2,357.21.
On the top-tier Prime Market, decliners were led by securities house, financing, and warehousing and harbor transportation service issues.
At 9 a.m., the U.S. dollar fetched 149...