Tokyo stocks open lower as gains locked in ahead of Fed meeting

Tokyo stocks opened lower Tuesday as investors locked in gains from the market's advance last week amid caution ahead of a two-day U.S. Federal Reserve policy meeting beginning later in the day.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 262.28 points, or 0.78 percent, from Friday to 33,270.81. The broader Topix index was down 2.44 points, or 0.10 percent, at 2,425.94.

Japanese financial markets were closed Monday for a national holiday.

On the top-tier Prime Market, decliners were led by bank, retail and service issues.

At 9 a.m., the U.S. dollar fetched 147.61-62 yen compared with 147.56-66 yen in New York at 5 p.m. Monday.

The euro was quoted at $1.0692-0693 and 157.82-85 yen against $1.0687-0697 and 157.76-86 yen in New York late Monday afternoon.

© Kyodo News