Tokyo Stocks Open Lower
Oct. 31, 2001
TOKYO (AP) _ Tokyo stocks moved lower early Wednesday amid dampened investor sentiment following further declines on Wall Street. The dollar was higher against the yen.
The benchmark 225-issue Nikkei Stock Average shed 69.17 points, or 0.66 percent, to 10,443.65 at the open. On Tuesday, the average closed down 99.49 points, or 0.95 percent.
The dollar bought 122.14 yen in early trading, up 0.33 yen from late Tuesday in Tokyo and also above its late New York level of 122.02 yen.
On the stock market, the Nikkei index slipped after U.S. stocks fell Tuesday after the New York-based Conference Board released a report showing the weakest consumer confidence in the United States in 7 1/2 years.
The Conference Board, a private, nonprofit business research organization, said its Consumer Confidence Index sank to 85.5 from 97 in September.
The index, based on a monthly survey of U.S. households, is closely watched as an indication of consumer spending, which accounts for about two-thirds of the U.S. economic activity.
In New York, the Dow Jones industrial average fell 147.52 to 9,121.98 at Tuesday's close. The Nasdaq composite index finished at 1,667.41, down 32.11.
The broader Tokyo Stock Price Index of all issues listed on the first section was down 6.27 points, or 0.59 percent, to 1,061.49 early Wednesday. The TOPIX closed down 14.89 points, or 1.38 percent, the day before.
In currency dealings, traders said the dollar moved slightly higher against the yen in light trading as some investors sold the greenback to adjust their dollar positions.
In other currencies, the euro was traded at 110.72 yen, up from 110.30 yen late Tuesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond was unquoted in early trading. On Tuesday, it settled at 1.3350 percent and its price stood at 100.56.
On the Net:
Tokyo Stock Exchange: http://www.tse.or.jp