Yen dips to upper 143 zone vs. dollar on rate gap, new 24-yr low

The yen briefly weakened to the upper 143 level against the U.S. dollar Wednesday morning in Tokyo, hitting a fresh 24-year low on continued speculation that the U.S.-Japan interest rate gap will widen.

Tokyo stocks fell in the morning as investors grew concerned over a slowdown in the world's largest economy and the global economy as a result of the U.S. Federal Reserve's monetary tightening.

The 225-issue Nikkei Stock Average fell 263.68 points, or 0.95 percent, from Tuesday to 27,362.83. The broader Topix index was down 14.79 points, or 0.77 percent, at 1,911.79.

On the top-tier Prime Market, decliners were led by mining, marine transportation, and electric appliance issues.

© Kyodo News