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Tokyo Stocks Edge Upward

March 25, 2002

TOKYO (AP) _ Tokyo stocks edged upward early Monday in light trading ahead of Japan’s fiscal year-end at the end of this month. The dollar was higher against the yen.

The benchmark 225-issue Nikkei Stock Average gained 2.49 points, or 0.02 percent, to 11,347.57 in the first 30 minutes of trading. On Friday, the average closed down 181.70 points, or 1.6 percent.

The U.S. dollar bought 132.83 yen in early trading, up 0.46 yen from late Friday in Tokyo and also above its late New York level of 132.78 yen on Friday.

On the stock market, the Nikkei index moved slightly higher. But trading remained in a narrow range as many investors held back ahead of the fiscal year’s end March 31.

In New York, the Dow Jones industrial average fell 52.17 to 10,427.67 at Friday’s close. The Nasdaq composite index closed at 1,851.42, down 17.41.

The broader Tokyo Stock Price Index of all issues listed on the first section was up 2.49 points, or 0.23 percent, to 1,079.12 early Monday. The TOPIX closed down 21.22 points, or 1.9 percent, on Friday.

In currency dealings, the dollar strengthened against the yen amid an upbeat U.S. economic outlook.

In other currencies, the euro was traded at 116.33 yen, down from 116.78 yen late Friday in Tokyo.

The yield on the benchmark 10-year Japanese government bond stood at 1.4450 percent, unchanged from Friday’s finish. Its price remained unchanged at 100.47.

On the Net:

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

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