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Tokyo stocks open lower, market shows muted response to Fed's rate cut

Xinhua News,TOKYO
2020-03-16 09:08

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Tokyo stocks opened lower Monday with investors shrugging off the U.S. Federal Reserve's emergency rate cut a day earlier, while the yen's rise added to negative sentiment and weighed on exporters.

As of 9:15 a.m., the 225-issue Nikkei Stock Average lost 159.81 points, or 0.92 percent, from Friday to 17,271.24.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 11.80 points, or 0.94 percent, at 1,249.90.

Real estate, electric power and gas, and transportation equipment issues comprised those that declined the most in the opening minutes after the morning bell.
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