Tokyo stocks open down on fears of prolonged U.S. monetary tightening
Tokyo stocks opened lower Friday after stronger-than-expected U.S. economic data fueled concern that the Federal Reserve will maintain powerful monetary tightening for a long period. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 343.72 points, or 1.30 percent, from Thursday to 26,164.15. The broader Topix index was down 16.32 points, or 0.86 percent, at 1,891.85. On the top-tier Prime Market, decliners were led by electric appliance, machinery, and nonferrous metal issues. At 9 a.m., the U.S. dollar fetched 132.36-40 yen compared with 132.33-43 yen in New York and...