Tokyo stocks open lower on concerns over U.S. monetary tightening

Economy

Tokyo stocks opened lower Monday, tracking a fall on Wall Street late last week, amid worries that the U.S. central bank may further tighten monetary policy to fight high inflation. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 366.98 points, or 1.36 percent, from Friday to 26,636.58. The broader Topix index was down 17.36 points, or 0.91 percent, at 1,898.55. On the top-tier Prime Market, decliners were led by iron and steel, nonferrous metal, and real estate issues. At 9 a.m., the dollar fetched 130.72-73 yen compared with 130.48-58 yen in New York and 130.51-53...

Kyodo News

Kyodo News