Tokyo stocks open lower as tech issues drop, yen gains

Economy

Tokyo stocks opened lower Tuesday as chip and electronics shares fell after the decline of U.S. tech indexes overnight, while the yen’s strength against the U.S. dollar weighed on exporter issues.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 483.65 points, or 1.25 percent, from Monday to 38,336.84. The broader Topix index was down 40.47 points, or 1.52 percent, at 2,626.36.

On the top-tier Prime Market, decliners were led by wholesalers, insurance and precision instrument issues.

At 9 a.m., the U.S. dollar fetched 146.71-76 yen compared with 146.89-99 yen in New ...

Kyodo News

Kyodo News