Tokyo Stocks Fall Sharply
TOKYO (AP) _ Tokyo share prices dropped sharply early Wednesday in tandem with a decline on Wall Street. The dollar was lower against the yen.
The benchmark 225-issue Nikkei Stock Average shed 284.68 points, or 1.86 percent, to 15,055.54 in the first 30 minutes of trading. On Tuesday, the average closed down 172.10 points, or 1.11 percent.
The dollar bought 107.86 yen, down 0.34 yen from late Tuesday in Tokyo and also below its late New York level of 107.99 yen.
On the stock market, the Nikkei slid on selling of technology issues and communications-related stocks, weighed down by Wall Street’s weakness.
In New York, the Dow Jones industrial average lost 149.09 points to 10,089.71 at Tuesday’s close. The Nasdaq composite index fell 76.32 to end at 3,213.96.
The broader Tokyo Stock Price Index of all issues listed on the first section was down 25.60 points, or 1.78 percent, to 1,412.56. The TOPIX closed down 13.26 points, or 0.91 percent, the day before.
In other currencies, the euro was traded at 92.16 yen, up from 91.84 yen late Tuesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.8050 percent from Tuesday’s finish of 1.8300 percent. Its price rose 0.21 point to 100.81.
On the Net: Tokyo Stock Exchange: http://www.tse.or.jp