Tokyo stocks close lower amid caution over recent highs, rate hikes

Tokyo stocks closed lower Friday, as investors locked in gains amid caution over recent rallies while aggressive rate hikes by overseas central banks also dented sentiment.The 225-issue Nikkei Stock Average ended down 483.34 points, or 1.45 percent, from Thursday at 32,781.54. The broader Topix index finished 31.77 points, or 1.38 percent, lower at 2,264.73.Decliners were led by wholesale trade, nonferrous metal and transportation equipment issues.The U.S. dollar remained firm around the 143 yen line after rising to a new seven-month high of 143.44 yen in Tokyo on prospects of a further wid…READ FULL ARTICLE