TOKYO, May 30 (Xinhua) -- Tokyo stocks closed significantly lower on Thursday tracking overnight losses in the U.S. stock market amid cautious market sentiment.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 502.74 points, or 1.30 percent, from Wednesday to close the day at 38,054.13, its lowest level since April 26.

The broader Topix index, meanwhile, finished 15.42 points, or 0.56 percent, lower at 2,726.20.

Market watchers here noted that the yield on the benchmark 10-year Japanese government bond at one point reached a 13-year high of 1.1 percent on Wednesday on speculation that the Bank of Japan would move to raise the interest rate additionally in the morning, fueling worries over higher borrowing costs.

High-tech stocks were sold off in the Tokyo market tracking losses in their U.S. counterparts amid overvaluation fears, while the market sentiment was also weighed down by other Asian markets during the day.

Amid close attention to interest rate movements, analysts here added that the future of the central bank's monetary policy in particular is unreadable and few investors are willing to chase higher quotations at the moment.

On the Prime Market, decliners were led by mining, marine transportation and nonferrous metal issues. Enditem

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