Tokyo stocks edged down Wednesday morning, with technology issues coming under pressure after shares on Wall Street dropped overnight amid lingering concern over the U.S. economy.

The 225-issue Nikkei Stock Average fell 93.65 points, or 0.33 percent, from Tuesday to 28,359.10. The broader Topix index was down 1.7 points, or 0.09 percent, at 1,969.74.

On the top-tier Prime Market, decliners were led by land transportation, service, and pharmaceutical issues.

The dollar moved little in the upper 136 yen range as buying on an overnight rise in long-term U.S. Treasury yields was offset by selling on weak U.S. business activity data for August released Tuesday, dealers said.

At noon, the dollar fetched 136.90-91 yen compared with 136.70-80 yen in New York and 137.27-29 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $0.9943-9947 and 136.12-18 yen against $0.9961-9971 and 136.32-42 yen in New York and $0.9933-9935 and 136.35-39 yen in Tokyo late Tuesday afternoon.

Stocks opened higher as investors bought battered shares following the Nikkei's decline for four trading days through Tuesday. But they soon turned downward as technology issues were sold.

The weaker-than-expected S&P Global Purchasing Managers' Index "sparked worries about the global economy," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities Co.

Many investors also took to the sidelines ahead of a speech later this week by Federal Reserve Chairman Jerome Powell, amid speculation that the U.S. central bank may further raise interest rates to fight inflation.

Among Prime Market issues, advancers outnumbered decliners 1,013 to 732, while 92 ended the morning unchanged.

In the technology sector, semiconductor equipment maker Tokyo Electron was down 760 yen, or 1.7 percent, at 44,560 yen, while rival Advantest fell 60 yen, or 0.7 percent, to 8,220 yen. Industrial robot maker Fanuc dropped 120 yen, or 0.5 percent, to 23,110 yen.

==Kyodo

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