Tokyo stocks were lower Wednesday morning, weighed down by an overnight decline in the U.S. Dow Jones index and wariness ahead of the outcome of the U.S. Federal Reserve's policy meeting later in the day.
The 225-issue Nikkei Stock Average fell 308.46 points, or 0.79 percent, from Tuesday to 38,826.33. The broader Topix index was down 23.62 points, or 0.85 percent, at 2,753.18.
The U.S. dollar moved narrowly in the lower 157 yen range in Tokyo as a wait-and-see mood prevailed ahead of the release on Wednesday of both the U.S. consumer price index for May and the results of the Fed policy meeting.
At noon, the U.S. dollar fetched 157.17-20 yen compared with 157.09-19 yen in New York and 157.34-35 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.0740-0744 and 168.80-90 yen against $1.0735-0745 and 168.65-75 yen in New York, and $1.0763-0765 and 169.35-39 yen in Tokyo late Tuesday afternoon.
Stocks were lower from the outset, with sentiment dampened by an overnight fall on the U.S. Dow Jones index, which was pressured by political uncertainty in Europe after French President Emmanuel Macron called a snap election, analysts said.
A cautious mood also took hold of the Japanese market ahead of the key economic events in the United States later in the day, as well as the Bank of Japan's two-day monetary policy meeting starting Thursday, brokers said.
