Tokyo Stocks Slip on Rate Concerns and Weak Yen

Tokyo stocks closed slightly lower on Monday due to concerns over interest rates and the weak performance of the Japanese yen, according to Timothy Pope, an analyst for China Global Television Network.

The Nikkei 225 index rallied from its session lows but still finished down 93.63 points, or 0.14 percent, from Friday at 66,311.93.

Pope attributed the market's performance to worries about interest rates after Fed Chair Kevin Warsh's speech last week and ahead of a speech by a Bank of Japan hawk later in the week. He also pointed out that the weak yen has slipped back to around 160 per dollar, following a rare joint intervention by the Japanese and US governments.