Tokyo stocks open lower on concern over prolonged U.S. rate hikes
Tokyo stocks opened lower Thursday amid concern that U.S. interest rates will remain higher for longer than expected after the Federal Reserve revised upward its rate outlook for the next year.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 118.83 points, or 0.42 percent, from Wednesday to 28,037.38. The broader Topix index was down 5.01 points, or 0.25 percent, at 1,972.41.
On the top-tier Prime Market, decliners were led by precision instrument, electric appliance, and machinery issues.
At 9 a.m., the dollar fetched 135.33-36 yen compared with 135.43-53 yen in Ne...