Tokyo stocks opened lower Wednesday as exporter issues were sold after the yen strengthened against the U.S. dollar overnight in response to falling long-term U.S. interest rates.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 381.84 points, or 0.98 percent, from Tuesday to 38,455.62. The broader Topix index was down 35.99 points, or 1.29 percent, at 2,751.49.
On the top-tier Prime Market, decliners were led by marine transportation, mining and transportation equipment issues.
At 9 a.m., the dollar fetched 155.11-12 yen compared with 154.86-96 yen in New York and 155.38-40 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.0880-0884 and 168.76-83 yen against $1.0873-0883 and 168.41-51 yen in New York and $1.0889-0891 and 169.20-24 yen in Tokyo late Tuesday afternoon.
