Tokyo stocks open lower on yen’s rise, investors lock in profits

Tokyo, June 1 (IANS) Tokyo stocks opened lower on Wednesday as the yen’s appreciation against the US dollar saw investors opt to secure gains made following the market’s recent bullish run.

As of 9:15 a.m., the 225-issue Nikkei Stock Average dropped 147.73 points, or 0.86 percent, from Tuesday to 17,087.25.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, relinquished 11.77 points, or 0.85 percent, to 1,368.03.

On the main section all industry categories retreated into negative territory, with air and land transportation, and iron and steel-linked issues comprising early notable decliners.

–IANS

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