The yen hit a 32-year low near the 150 line versus the dollar Thursday morning in Tokyo as buying of the U.S. currency was prompted by a sharp rise in long-term Treasury yields amid the prospect of aggressive interest hikes by the Federal Reserve.
Tokyo stocks were lower in the morning, tracking overnight falls on Wall Street as higher U.S. interest rates stirred fears of an economic slowdown in the world's largest economy.
The 225-issue Nikkei Stock Average fell 303.23 points, or 1.11 percent, from Wednesday to 26,954.15. The broader Topix index was down 12.08 points, or 0.63 percent, at 1,892.98.
On the top-tier Prime Market, decliners were led by precision instrument, electric appliance, and glass and ceramic product issues.
