TOKYO (AP) _ Tokyo stocks edged lower in early trading Friday on mild profit-taking following the market's sharp gains the previous day. The dollar was higher against the yen.

The benchmark 225-issue Nikkei Stock Average slipped 1.19 points, or 0.01 percent, to 10,488.70 at the open. On Thursday, the average closed up 403.13 points, or 4 percent.

The dollar bought 122.48 yen in early trading, up 0.31 yen from late Thursday in Tokyo and also above its late New York level of 122.38 yen.

On the stock market, the Nikkei index slipped as investors locked in profits in reaction to Thursday's rally in Tokyo.

In New York, the Dow Jones industrial average rose 48.78 to 9,872.39 at Thursday's close. The Nasdaq composite index closed at 1,900.57, down 2.62.

The broader Tokyo Stock Price Index of all issues listed on the first section was down 0.39 points, or 0.04 percent, to 1,044.17 Friday morning. The TOPIX closed up 25.46 points, or 2.50 percent, the day before.

In currency dealings, the dollar moved higher against the yen following its strength in New York on Thursday, when the currency made solid gains amid optimism over the future of the U.S. economy and the pace of the war in Afghanistan.

In other currencies, the euro was traded at 108.02 yen, up from 107.70 yen late Thursday in Tokyo.

The yield on the benchmark 10-year Japanese government bond rose to 1.3550 percent from Thursday's finish of 1.3450 percent. Its price fell 0.08 point to 100.39.


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