Tokyo Stocks Open Lower as Yen’s Rise, Wall Street’s Drop Sours Mood

Tokyo (PNA/Xinhua) — Tokyo stocks opened lower on Tuesday as the yen’s rise against the US dollar coupled with a lackluster performance on Wall Street overnight saw the market mood soured and investors offloading issues.

As of 9:15 a.m., the 225-issue Nikkei Stock Average dropped 123. 46 points, or 0.74 percent, from Monday to 16,531.14.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 8.42 points, or 0.63 percent, to 1,330.26.

Early notable decliners comprised insurance, iron and steel as well as banking-linked shares. (PNA/Xinhua) JMC/EBP