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Tokyo stocks drop in morning on caution ahead of FOMC outcome

Xinhua, March 16, 2016 Adjust font size:

Tokyo stocks lost ground Wednesday morning when investors were in a jittery mood ahead of the outcome of the U.S. Federal Reserve's two-day Federal Open Market Committee meeting, with nerves compounded by a comparatively strong yen.

The 225-issue Nikkei Stock Average dropped 65.70 points, or 0.38 percent, from Tuesday to 17,051.37.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 5.00 points, or 0.36 percent, to 1,367.08.

Notable decliners by the morning break comprised banking, iron and steel, as well as insurance-linked shares. Endit