Tokyo stocks drop after Fed projection strengthens yen

©Kyodo News

Tokyo stocks retreated Thursday after the Federal Reserve's indication that U.S. interest rates will stay low at least through 2023 lifted the yen, triggering concerns over the outlook for Japanese exporters' profits.

The 225-issue Nikkei Stock Average ended down 156.16 points, or 0.67 percent, from Wednesday at 23,319.37. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 5.95 points, or 0.36 percent, lower at 1,638.40.

Decliners included land transportation, nonferrous metal and transportation equipment issues.