Tokyo stocks opened sharply lower Monday, with the Nikkei index briefly dropping by over 2 percent, as falls in U.S. semiconductor shares and a firmer yen spurred selling of technology and export-related issues.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 714.44 points, or 1.80 percent, from Friday to 38,974.50. The broader Topix index was down 39.06 points, or 1.43 percent, at 2,687.74.
On the top-tier Prime Market, decliners were led by mining, machinery and transportation equipment issues.
At 9 a.m., the U.S. dollar fetched 146.77-78 yen compared with 147.04-14 yen in New York and 147.87-89 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0941-0945 and 160.58-65 yen against $1.0935-0945 and 160.79-89 yen in New York and $1.0933-0934 and 161.67-71 yen in Tokyo late Friday afternoon.
