Tokyo stocks open lower on US market's fall, stronger yen
Tokyo - Tokyo stocks opened lower Thursday on Wall Street's overnight losses and a stronger yen.
The Nikkei 225 Stock Average lost 164.03 points, or 1.18 per cent, to 13,762.27.
The broader Topix index of all first-section issues was also down 12.21 points, or 0.89 per cent, at 1,357.88.
While soaring oil prices also prompted concerns over global inflation, investors dumped export-oriented issues due to a stronger yen.
On currency markets in Tokyo at 9 am (0000 GMT), the dollar was quoted at 103.04-09 yen, down from Wednesday's 5 pm quote of 103.31-33 yen. A stronger yen hurts Japanese firms' earnings and makes Japanese products cheaper abroad.
The euro was quoted at 1.5778-83 dollars, up from Wednesday's 5 pm quote of 1.5642-44 dollars, and at 162.61-66 yen, up from 161.60-64 yen. (dpa)
