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Tokyo Stocks Lower

October 16, 2001

TOKYO (AP) _ Tokyo stocks were slightly lower in early trading Tuesday following an overnight decline in the tech-heavy Nasdaq composite index on Wall Street. The U.S. dollar slipped against the yen.

The benchmark 225-issue Nikkei Stock Average shed 18.64 points, or 0.18 percent, to 10,433.90 at the open. On Monday, the average closed down 179.81 points, or 1.7 percent.

The dollar bought 120.84 yen in early trading, down 0.14 yen from late Monday in Tokyo and also below its late New York level of 120.96 yen overnight

On the stock market, the Nikkei index moved slightly lower as investors looked for fresh incentives amid a dearth of fresh news.

In New York, the Dow Jones industrial average gained 3.46 to 9,347.62 at Monday’s close. The Nasdaq composite index closed at 1,696.31, down 7.09.

The broader Tokyo Stock Price Index of all issues listed on the first section was down 3.14 points, or 0.29 percent, to 1,068.64. The TOPIX closed down 15.70 points, or 1.44 percent, the day before.

In currency dealings, the dollar edged lower against the yen after the greenback fell slightly in New York Monday amid lingering concerns about the U.S. economy and security in the face of other possible terrorist scares.

In other currencies, the euro was traded at 109.64 yen, down from 110.14 yen late Monday in Tokyo.

The yield on the benchmark 10-year Japanese government bond fell to 1.3700 percent from Monday’s finish of 1.3800 percent. Its price rose 0.09 point to 100.26.


On the Net:

Japan’s Tokyo Stock Exchange: http://www.tse.or.jp

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