TOKYO (Kyodo) -- Tokyo stocks fell Wednesday morning, with technology shares tracking overnight declines of their U.S. counterparts, while investors awaited Toyota Motor Corp.'s earnings report due out later in the day.

The 225-issue Nikkei Stock Average fell 531.71 points, or 1.37 percent, from Tuesday to 38,303.39. The broader Topix index was down 33.52 points, or 1.22 percent, at 2,712.70.

The U.S. dollar climbed to the lower 155 yen range in Tokyo on expectations that the interest rate differential between Japan and the United States will remain wide, although caution remained over a potential intervention by Japanese authorities to arrest the yen's slide, dealers said.

At noon, the dollar fetched 155.15-18 yen compared with 154.65-75 yen in New York and 154.11-12 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.0740-0744 and 166.65-69 yen against $1.0750-0760 and 166.30-40 yen in New York and $1.0764-0765 and 165.89-93 yen in Tokyo late Tuesday afternoon.

The Nikkei stock index expanded losses during the morning session after the U.S. Nasdaq index fell overnight, while some investors locked in gains following the previous day's sharp rise.

A cautious mood also prevailed ahead of Toyota's earnings results, with attention centering on its earnings forecast and vehicle sales outlook for the fiscal year ending March 2025.

"This fiscal year's earnings forecasts is attracting more attention than before," with the focus on the automaker's handling of recent data-rigging scandals at its group firms, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.

While Toyota tends to release modest earnings outlooks, the market could react negatively if it appears to be more restrained than usual, Ichikawa added.