Tokyo stocks slightly lower in early morning trading on stronger yen

Tokyo stocks were slightly lower early Wednesday, as buying after overnight gains on Wall Street was offset by selling of some exporter issues on a stronger yen against the U.S. dollar amid hopes for an easing of tensions in the Middle East.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 14.97 points, or 0.04 percent, from Tuesday to 38,775.59. The broader Topix index was down 5.37 points, or 0.19 percent, at 2,775.98.

On the top-tier Prime Market, decliners were led by wholesale trade, precision instrument, and pulp and paper issues.

At 9 a.m., the dollar fetched 144.93-95 yen compared with 144.82-92 yen in New York and 145.30-32 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.1611-1613 and 168.29-33 yen against $1.1604-1614 and 168.12-22 yen in New York and $1.1590-1592 and 168.41-45 yen in Tokyo late Tuesday afternoon.