Tokyo stocks opened sharply lower Friday on selling spurred by a plunge on Wall Street overnight after stronger-than-expected U.S. economic data reduced the prospects of interest rate cuts in the coming months.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 705.01 points, or 1.80 percent, from Thursday to 38,398.21. The broader Topix index was down 31.32 points, or 1.14 percent, at 2,723.43.
On the top-tier Prime Market, decliners were led by wholesale trade, electric power and gas, and real estate issues.
At 9 a.m., the U.S. dollar fetched 156.99-157.00 yen compared with 156.92-157.02 yen in New York and 156.76-77 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.0811-0812 and 169.72-75 yen against $1.0810-0820 and 169.67-77 yen in New York and $1.0828-0830 and 169.75-79 yen in Tokyo late Thursday afternoon.
