Tokyo stocks got off to a bumpy start Wednesday, the first trading day of 2023, with the Nikkei ending at a 10-month low amid fears that the Bank of Japan could move further toward monetary tightening and cause the yen to rise sharply against the U.S. dollar.
The 225-issue Nikkei Stock Average dropped 377.64 points, or 1.45 percent, from Friday to 25,716.86, its lowest close since March 15. The broader Topix index was down 23.56 points, or 1.25 percent, at 1,868.15. Japanese financial markets were closed Monday and Tuesday due to the New Year holidays.
Nearly all 33 industries on the Tokyo Stock Exchange fell, with marine transportation, mining, and precision instrument issues among the worst performers.
