Tokyo stocks lower in morning on looming Fed policy tightening
Tokyo stocks were lower Monday morning on growing expectations that the U.S. Federal Reserve will tighten its monetary policy amid ongoing concerns about inflation. The 225-issue Nikkei Stock Average fell 236.33 points, or 0.86 percent, from Friday to 27,203.66. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 8.17 points, or 0.42 percent, at 1,922.39. Decliners were led by marine transportation, precision instrument and metal product issues.