Dollar above 123 yen line for 1st time in 6 yrs, Tokyo stocks fall
The U.S. dollar briefly topped the 123 yen line Monday for the first time since December 2015, while Tokyo stocks fell in the morning on concerns over the Chinese economy after Shanghai came under a lockdown due to rising COVID-19 infections. The 225-issue Nikkei Stock Average dropped 162.64 points, or 0.58 percent, from Friday to 27,987.20. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.74 points, or 0.34 percent, to 1,974.73. Decliners were led by nonferrous metal, marine transportation and iron and steel issues.