Tokyo stocks open down as brisk U.S. data fuel rate hike fears

Tokyo stocks opened lower Tuesday after better-than-expected U.S. manufacturing data released overnight stoked investor concern about prolonged interest rate hikes by the Federal Reserve.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 374.82 points, or 1.18 percent, from Monday to 31,385.06. The broader Topix index was down 28.43 points, or 1.23 percent, at 2,286.01.

On the top-tier Prime Market, decliners were led by mining, oil and coal product, and iron and steel issues.

The U.S. dollar continued to trade slightly below the psychologically important 150 yen line...