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Tokyo Stock Prices Close Higher

June 21, 2000

TOKYO (AP) _ Tokyo stocks climbed Wednesday on buying of technology stocks following the Nasdaq’s rise in New York overnight. The dollar edged lower against the yen.

The benchmark 225-issue Nikkei Stock Average rose 302.53 points, or 1.79 percent, to close at 17,210.08 points on the Tokyo Stock Exchange. On Tuesday, the average closed up 316.20 points, or 1.91 percent.

The dollar bought 105.28 yen at 3 p.m. (3 a.m. EDT), down 0.18 yen from late Tuesday in Tokyo but below its late New York level of 105.44 yen overnight.

On the stock market, prices rose on buying of technology issues, including Sony and Kyocera.

On the Tokyo Stock Exchange’s first section, 699 issues rose, with 557 issues finishing lower and 148 unchanged from Tuesday.

Volume on the first section was estimated at 696.06 million shares, up from 655.39 million shares.

The broader Tokyo Stock Price Index of all issues listed on the first section rose 24.16 points, or 1.55 percent, to close at 1,583.95. The TOPIX closed up 25.91 points, or 1.70 percent, the day before.

In New York, the Dow Jones industrial average fell 122.68 points to 10,435.16 at Tuesday’s close. The Nasdaq composite index gained 23.53 points to finish at 4,013.36.

In currency dealings, the dollar moved in a narrow range minus a lack of major market-moving news.

Traders said the yen has recently drawn interest among investors amid some signs that Japan’s economy is moving toward a self-sustaining recovery from its worst slowdown in 50 years.

In other currencies, the euro was traded at 100.30 yen, down from 101.16 yen late Tuesday in Tokyo.

The yield on the benchmark 10-year Japanese government bond rose to 1.6750 percent from Tuesday’s finish of 1.6450 percent. Its price fell 0.26 point to 100.46.

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On the Net:

Tokyo Stock Exchange: http://www.tse.or.jp./

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