Tokyo stocks drop on rekindled U.S. rate hike fears
Tokyo stocks fell Friday, pressured by concerns over the impact of higher borrowing costs in the United States amid rekindled prospects of further interest rate hikes by the Federal Reserve.
The 225-issue Nikkei Stock Average ended down 171.26 points, or 0.54 percent, from Thursday at 31,259.36. The broader Topix index finished 8.51 points, or 0.38 percent, lower at 2,255.65.
On the top-tier Prime Market, decliners were led by insurance, transportation equipment and securities house issues.
The yield on the benchmark 10-year Japanese government bond hit 0.845 percent, its highest level since J...