Asian markets down slightly as investors wait for Fed

TOKYO (AP) — Asian stock markets were down slightly in subdued trading Tuesday amid anticipation the U.S. Federal Reserve may raise interest rates in June.

Japan's benchmark Nikkei 225 slipped 0.5 percent in early trading to 16,566.23 as the yen continued to strengthen, putting a dampener on export issues.

Several members of the Federal Reserve will be making speeches this week, which may give insight on what Fed policymakers might do at their meeting in June.

THE QUOTE: "Fed's rhetoric keeps rate hike in summer live," Cynthia Jane Kalasopatan, of Mizuho Bank's Singapore Treasury Division, wrote in an email to subscribers.