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Tokyo stocks open lower ahead of US interest rate decision

Business Materials 30 April 2008 08:39 (UTC +04:00)

Investors retreated to the sidelines to send Tokyo stocks down Wednesday ahead of the US Federal Reserve's announcement on its interest rate later in the day, the dpa reported.

The Nikkei 225 Stock Average dipped 10.88 points, or 0.08 per cent, to 13,883.49.

The broader Topix index of all first-section issues was also down 0.48 points, or 0.04 per cent, at 1,361.27.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 103.90-95 yen, down from Monday's 5 pm quote of 104.56-58 yen. Japan's financial markets were closed Tuesday for a national holiday.

The euro was quoted at 1.5572-77 dollars, down from Monday's 5 pm quote of 1.5632-34 dollars, and at 161.75-80 yen, down from 163.45-49 yen.

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