Tokyo stocks close lower on Fed rate hike bets

TOKYO, Apr 7 (AFP): Tokyo stocks closed lower Thursday as minutes from the Federal Reserve's most recent meeting fuelled expectations of more aggressive interest rate hikes to bring inflation under control.
The benchmark Nikkei 225 index dropped 1.69 percent, or 461.78 points, to 26,888.57, while the broader Topix index fell 1.56 percent, or 30.01 points, to 1,892.90.
The dollar stood at 123.59, slightly softer from 123.79 on Wednesday in New York.
Falling US shares depressed sentiment, after the US Federal Reserve's meeting minutes revealed that several members expressed support in March for raising interest rates by half a percentage point rather than the quarter percentage point officially decided.
The Nasdaq gave up 2.2 percent while the Dow slipped 0.4 percent.