Tokyo stocks lower in morning

Tokyo stocks

Tokyo stocks were lower Wednesday morning, with the 225-issue Nikkei Stock Average fell 66.75 points, or 0.17 percent, from Tuesday to 38,404.45.

According to Kyodo News, the broader Topix index was down 15.57 points, or 0.58 percent, at 2,681.54.

The stock market was initially supported by buying of battered shares after the Nikkei lost over 1,000 points in the past two trading days.

But shares soon fell into negative territory on renewed speculation that US interest rate cuts may not take place as soon as June as expected earlier, analysts said.

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