This photo shows the Tokyo Stock Exchange. (Mainichi)
TOKYO (Kyodo) — Tokyo stocks fell Friday morning, hurt by caution over tensions in the Middle East and a rebound in U.S. Treasury yields after their drop benefited share prices a day earlier.
The 225-issue Nikkei Stock Average dropped 208.34 points, or 0.31 percent, from Thursday to 66,008.45. The broader Topix index was down 5.07 points, or 0.12 percent, at 4,054.66.
The U.S. dollar traded around the 159 yen line in Tokyo amid a lack of fresh trading cues.
At noon, the dollar fetched 158.96-97 yen compared with 159.03-13 yen in New York and 158.44-45 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.1696-1696 and 185.92-94 yen against $1.1673-1683 and 185.72-82 yen in New York and $1.1692-1693 and 185.26-30 yen in Tokyo late Thursday afternoon.
Stocks declined on concerns over oil supplies and inflation, which could hurt the economy, while investors viewed the U.S. Treasury Department’s plan to at least double its buybacks of long-term bonds as nothing more than a short-term solution, dealers said.
Investors were inclined to lock in gains at the end of the week and ahead of U.S. Treasury Secretary Scott Bessent’s press conference scheduled for Monday to explain “the toughest sanctions in history” on Iran, they added.