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Tokyo stocks lose ground in morning after Fed minutes indicate more rate hikes

Xinhua,February 22, 2018 Adjust font size:

TOKYO, Feb. 22 (Xinhua) -- Tokyo stocks lost ground Thursday morning after minutes from the Federal Reserve's January policy meeting indicated more interest rate hikes than expected this year.

An ongoing rise in U.S. long-term yields has also triggered concerns about higher inflation in the United States.

The 225-issue Nikkei Stock Average dropped 258.61 points, or 1.18 percent, from Wednesday to 21,712.20.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 16.83 points, or 0.96 percent, at 1,744.78.

All industry categories on the main section retreated, with mining, iron and steel, and marine transportation-linked issues comprising those that declined the most by the morning break. Enditem

 

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