Tokyo stocks opened lower Tuesday on concerns over prolonged U.S. interest rate hikes and the adverse impact on the world's largest economy, while the U.S. dollar climbed to a new 11-month high versus the yen overnight.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 167.14 points, or 0.51 percent, from Monday to 32,511.48. The broader Topix index was down 8.26 points, or 0.35 percent, at 2,377.24.
On the top-tier Prime Market, decliners were led by pharmaceutical, iron and steel, and electric appliance issues.
At 9 a.m., the dollar fetched 148.81-84 yen after hitting 148.97 yen, its highest level since last October. The U.S. currency fetched 148.83-93 yen in New York and 148.43-45 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.0589-0593 and 157.57-67 yen against $1.0586-0596 and 157.52-62 yen in New York, and $1.0638-0639 and 157.91-95 yen in Tokyo late Monday afternoon.
