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Tokyo Stocks Down at Midday

November 14, 2000

TOKYO (AP) _ Tokyo stocks slipped lower Tuesday morning following Wall Street’s decline the previous day. The dollar was lower against the yen.

The benchmark 225-issue Nikkei Stock Average fell 44.67 points, or 0.30 percent, to 14,619.97 at the end of the morning session. On Monday, the average closed down 323.90 points, or 2.16 percent.

The dollar bought 107.64 yen in late morning, down 0.20 yen from late Monday in Tokyo but marginally above its late New York level of 107.63 yen.

On the stock market, the Nikkei index was higher at the start of Tuesday’s trading, but soon moved into negative territory on selling of Japanese technology issues in reaction to weakness in New York.

The Nasdaq composite index fell below 3,000 points for the first time in more than a year in New York. The technology-dominated index closed at 2,966.72 on Monday, down 62.27 points, amid a series of bleak U.S. earnings reports and forecasts.

Also in New York, the Dow Jones industrial average fell 85.70 points to 10,517.25 at Monday’s close.

The broader Tokyo Stock Price Index of all issues listed on the first section was down 7.29 points, or 0.52 percent, to 1,388.42. The TOPIX closed down 21.31 points, or 1.50 percent, the day before.

In currency dealings, the greenback moved in a narrow range, following its overnight trend in New York, as traders continued to wait for a final outcome in the U.S. presidential election.

In other currencies, the euro was traded at 92.53 yen, down from 93.24 yen late Monday in Tokyo.

The yield on the benchmark 10-year Japanese government rose to 1.7900 percent from Monday’s finish of 1.7800 percent. Its price fell 0.09 point to 100.93.


On the Net:Tokyo Stock Exchange: http://www.tse.or.jp

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