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TOKYO: Tokyo stocks closed lower on Monday as unease lingered over tightening monetary policy in the United States and investors awaited key US economic data.

The benchmark Nikkei 225 index lost 0.61 percent, or 164.28 points, to 26,821.52, while the broader Topix index slid 0.38 percent, or 7.15 points, to 1,889.64.

The dollar jumped to 125.00 yen from 124.30 yen in New York and 124.04 yen in Tokyo on Friday.

“Focus this week is on the US and Chinese consumer price indexes for March,” to glean clues on the Federal Reserve’s monetary policy and that of other central banks, said Takashi Hiroki, chief strategist of Monex.

Tokyo stocks open higher tracking US gains

The Fed has recently taken a hawkish tone as it embarks on an aggressive tightening path, prompting traders to fret over the prospect of higher interest rates.

In Tokyo trading, chip-related shares were lower following a sell-off of US tech shares led by caution over the Fed’s monetary policy.

Okasan Online Securities said in a note that “selling was widespread (in the Tokyo market) particularly in growth stocks, as the US Nasdaq index fell”.

Chip-testing equipment maker Advantest dropped 1.82 percent to 8,590 yen while Tokyo Electron, a major producer of tools to build semiconductors, fell 0.63 percent to 55,070 yen.

Sony Group dived 3.93 percent to 11,715 yen.

Uniqlo operator Fast Retailing tumbled 2.72 percent to 58,530 yen while SoftBank Group sank 2.69 percent to 5,530 yen.

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