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Tokyo Stocks Slip

October 29, 2001

TOKYO (AP) _ Japanese stocks edged lower early Monday in quiet trading. The dollar was higher against the Japanese yen.

The benchmark 225-issue Nikkei Stock Average fell 27.07 points, or 0.25 percent, to 10,768.09 in the first 30 minutes of trading. On Friday, the Nikkei lost 84.94 points, or 0.78 percent.

The dollar bought 122.77 yen in early trading, up 0.16 yen from late Friday in Tokyo but below its late New York level of 122.98 yen Friday.

On the stock market, the Nikkei slipped following Friday’s fall in the tech-heavy Nasdaq in New York, traders said.

In New York on Friday, the Nasdaq composite index was down 6.51 at 1,768.96. The Dow Jones industrial average rose 82.27, or 0.9 percent, to 9,545.17.

The broader Tokyo Stock Price Index of all issues listed on the first section slipped 7.14 points, or 0.65 percent, to 1,094.08 Monday. The TOPIX fell 6.61 points, or 0.60 percent, Friday.

In currency dealings, the dollar moved little as investors awaited a series of economic indicators and events this week, including a meeting of the Bank of Japan policy-making panel and unemployment data.

The euro was quoted at 109.35 yen, down from 109.70 yen late Friday in Tokyo.

The yield on the benchmark 10-year Japanese government bond was unquoted in early trading. It finished at 1.3350 percent and was priced at 100.56 on Friday.

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On the Net:

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

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