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Tokyo stocks opened sharply lower on Thursday after a hefty sell-off in US tech shares and with a higher yen weighing on the market.
The benchmark Nikkei 225 index was down 2.66 percent, or 1,041.60 points, at 38,133.25 in early trade, while the broader Topix index was down 2.35 percent, or 65.70 points, at 2,727.42.
“The Japanese market is expected to open with sharp falls following a slump in US shares and a trend of a higher yen” against the dollar, Matsui Securities said.
The dollar fetched 153.84 yen in early Asian trade, down from 153.99 yen in New York and 154.59 yen in Tokyo late Tuesday, amid market expectations of a possible Bank of Japan interest rate hike next week.
Overnight on Wall Street, the tech-rich Nasdaq finished down 3.6 percent, the blue-chip Dow Jones Industrial Average fell 1.3 percent, and the broad-based S&P 500 dropped 2.3 percent.
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