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Tokyo stocks tumble in morning on yen's appreciation

Xinhua, June 2, 2016 Adjust font size:

Tokyo stocks fell sharply Thursday morning as the yen rose against the U.S. dollar following an announcement by Prime Minister Shinzo Abe a day earlier that he would once again delay a contentious sales tax hike, which has rattled market nerves.

The 225-issue Nikkei Stock Average tumbled 387.61 points, or 2.29 percent, from Wednesday to 16,568.12.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 28.43 points, or 2.09 percent, to 1,333.64.

The majority of industry categories retreated into negative territory, with marine transportation, insurance, and glass and ceramic product-linked issues comprising notable decliners by the morning break. Enditem