TOKYO: Tokyo stocks opened lower on Tuesday as interest rate hikes by the US Federal Reserve sent the yen higher against the US dollar which negatively impacted exporter issues and dented market sentiment. The 225-issue Nikkei Stock Average dropped 119.61 points, or 0.54 per cent, from Monday to 22,079.39, Xinhua news agency reported.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 6.91 points, or 0.41 per cent, at 1,685.24.Marine transportation, nonferrous metal, and glass and ceramics product-linked issues comprised those that declined the most in the opening minutes after the morning bell. Meanwhile, Chinese stocks opened higher on Tuesday, with the benchmark Shanghai Composite Index up 0.07 per cent to open at 2,700.34 points. The Shenzhen Component Index opened 0.07 per cent higher at 8,419.79 points, Xinhua news agency reported. (IANS)