Tokyo stocks open lower on concern over U.S. monetary tightening

Tokyo stocks opened slightly lower Monday amid concern over prolonged monetary tightening in the United States to tame inflation after the release of a stronger-than-expected jobs report for November.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 8.98 points, or 0.03 percent, from Friday to 27,768.92. The broader Topix index was down 5.38 points, or 0.28 percent, at 1,948.60.

On the top-tier Prime Market, decliners were led by marine transportation, electric power and gas, and warehousing and harbor transportation service issues.

At 9 a.m., the dollar fetched 134.47-50 yen compared with 134.29-39 yen in New York and 134.64-66 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.0542-0546 and 141.77-83 yen against $1.0535-0545 and 141.48-58 yen in New York and $1.0529-0530 and 141.77-81 yen in Tokyo late Friday afternoon.

© Kyodo News