TOKYO, Sept. 22 (Xinhua) -- Tokyo stocks lost ground Friday morning as earlier gains were erased by renewed geopolitical concerns as tensions mounted following a rise in hostilities on issues pertaining to the Korean Peninsula.
The 225-issue Nikkei Stock Average lost 58.12 points, or 0.29 percent, from Thursday to 20,289.36.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 5.05 points, or 0.30 percent, to 1,663.69.
In times of geopolitical uncertainty, investors tend to switch out of riskier assets like stocks and into safe havens like the Japanese yen, which pushes its value up against a basket of other major currencies, brokers here said.
They added that a strong yen, however, drags down exporter issues with a heavy exposure to overseas markets as they become less competitive and profits outlooks diminish and yields shrink when repatriated on unfavorable exchange rates.
Iron and steel, nonferrous metal and mining-related issues comprised those that declined the most by the morning break.
