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Tokyo stocks drop from the off as yen rises after Fed chief's rate remarks

Xinhua, March 30, 2016 Adjust font size:

Tokyo stocks opened lower on Wednesday as the yen's rise against the U.S. dollar following U.S. Federal Reserve chief Janet Yellen's remarks about slowing rate hikes impacted the key export sector, which effects the broader market.

As of 9:15 a.m., the 225-issue Nikkei Stock Average dropped 103.84 points, or 0.61 percent, from Tuesday to 16,999.69.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 11.40 points, or 0.83 percent, to 1,366.20.

Early notable decliners comprised mining, marine transportation, and oil and coal product-linked stocks. Endit