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Tokyo Stocks Open Lower

August 26, 2003

TOKYO (AP) _ Tokyo’s benchmark stock index started lower Tuesday as investors mulled a modest pullback on Wall Street. The dollar was lower against the Japanese yen.

The Nikkei Stock Average of 225 selected issues on the Tokyo Stock Exchange opened down 68.08 points, or 0.66 percent, at 10,208.56. On Tuesday, the index fell 4.53 points, or 0.04 percent.

The dollar was trading at 117.41 yen on the Tokyo foreign exchange market at 9 a.m. Tuesday, down from 117.56 late Monday, but above the 117.32 yen it bought in New York later.

The Nikkei opened lower following a second session of profit taking on Wall Street, where the Dow Jones industrial average slipped 0.6 percent and the Nasdaq composite average fell 0.1 percent in trading Monday.

The broader Tokyo Stock Price Index opened down 4.19 points, or 0.42 percent, at 993.61. The TOPIX, which includes more than 1,000 of Japan’s largest companies, fell 6.40 points, or 0.63 percent Monday.

In other currency trading, the euro was lower against the dollar and yen. It bought $1.0843, down from $1.0900 Monday. Against the yen, the euro was at 127.30 yen, down from 128.05 yen.

The yield on the benchmark 10-year bond rose to 1.3500 from 1.3400 percent Monday. Its price fell 0.09 points to 96.96.


On the Net:

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

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