Tokyo stocks fall on receding hopes for early U.S. rate cuts

Economy

Tokyo stocks fell Thursday morning, as investor sentiment was dented after the U.S. Federal Reserve signaled overnight that cuts to interest rates were unlikely to begin soon. The 225-issue Nikkei Stock Average dropped 262.42 points, or 0.72 percent, from Wednesday to 36,024.29. The broader Topix index was down 16.09 points, or 0.63 percent, at 2,535.01. The U.S. dollar fell slightly to the mid-146 yen range as the Fed suggested there would be no further interest rate hikes after its policy meeting Wednesday. At noon, the U.S. dollar fetched 146.58-59 yen compared with 146.87-97 yen in New Yor...

Kyodo News

Kyodo News