Pedestrians stand in front of an electronic quotation board displaying the yen’s rate against the US dollar in Tokyo.TOKYO - Tokyo stocks opened lower on Tuesday after a long weekend, tracking falls on Wall Street as investors braced for more large interest rate hikes from the US Federal Reserve.
"Japanese shares are seen starting with falls after days of drops in the US market," senior market analyst Toshiyuki Kanayama said in a note.While that was down from August, it was more than expected, indicating that the US economy is not yet slowing considerably and inflationary pressures likely remain.
The prospect of higher yields on debt was a boon for the dollar, however, which gained on its main rivals.
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