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Tokyo Stocks Lower

December 13, 2000

TOKYO (AP) _ Tokyo stocks slipped early Wednesday after the tech-heavy Nasdaq composite index finished lower on Wall Street the previous day. The dollar was higher against the yen.

The benchmark 225-issue Nikkei Stock Average shed 51.22 points, or 0.34 percent, to 15,063.42 in the first 30 minutes of trading. On Tuesday, the average closed up 98.94 points, or 0.66 percent.

The dollar bought 111.60 yen, up 0.38 yen from late Tuesday in Tokyo and also higher than its level of 111.52 yen late in New York.

On the stock market, the Nikkei index started lower on selling of selected technology issues following Tuesday’s 83.33-point decline by the Nasdaq, which closed at 2,931.77.

Also in New York on Tuesday, the Dow Jones industrial average rose 42.47 points to 10,704.27.

The broader Tokyo Stock Price Index of all issues listed on the first section was down 7.03 points, or 0.50 percent, to 1,386.64. The TOPIX closed up 7.93 points, or 0.57 percent, the day before.

In currency dealings, the dollar carried over its overnight strength against the yen in New York as investors reacted little to the release of a closely watched survey of business sentiment in Japan.

The Bank of Japan’s ``tankan″ showed that business confidence among executives at large Japanese manufacturers was at a positive figure in the October-December quarter, unchanged from the previous three months.

In other currencies, the euro was traded at 98.50 yen, up from 97.84 yen late Tuesday in Tokyo.

The yield on the benchmark 10-year Japanese government bond was unquoted in early trading. On Tuesday, it settled at 1.6400 percent and its price stood at 101.37.

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On the Net:

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

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