Tokyo stocks open sharply lower on strong yen vs. dollar

Tokyo stocks opened sharply lower Friday, with sentiment hurt by the firming yen that rose to a three-and-a-half month high against the U.S. dollar in the lower 135 range in New York overnight.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 452.58 points, or 1.60 percent, from Thursday to 27,773.50. The broader Topix index was down 33.10 points, or 1.67 percent, at 1,953.36.

On the top-tier Prime Market, decliners were led by precision instrument, wholesale, and pharmaceutical issues.

At 9 a.m., the dollar fetched 135.15-16 yen compared with 135.28-38 yen in New York and 136.52-55 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.0526-0530 and 142.26-32 yen against $1.0521-0531 and 142.42-52 yen in New York and $1.0402-0404 and 142.02-06 yen in Tokyo late Thursday afternoon.

© Kyodo News