Tokyo Stocks Advance, Dollar Lower
May. 22, 2001
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TOKYO (AP) _ Tokyo stocks rose moderately in early trading Tuesday, supported by continued strength in shares on Wall Street. The dollar was lower against the yen.
The benchmark 225-issue Nikkei Stock Average climbed 94.87 points, or 0.67 percent, to 14,271.70 at the start of morning trading. On Monday, the average closed up 299.06 points, or 2.15 percent.
The dollar bought 122.66 yen in early morning trading, down 0.60 yen from late Monday in Tokyo but above its late New York level of 122.57 yen.
On the stock market, the Nikkei started higher after the Dow Jones industrial average rose 36.18 to 11,337.92 at Monday's close. The Nasdaq composite index finished at 2,305.59, up 106.71.
The broader Tokyo Stock Price Index of all issues listed on the first section was up 9.39 points, or 0.68 percent, to 1,392.78. The TOPIX rose 11.82 points, or 0.86 percent, the day before.
In currency dealings, the dollar slipped on mild profit-taking in reaction to Monday's levels in Tokyo.
In other currencies, the euro was traded at 107.52 yen, down from 107.98 yen late Monday in Tokyo.
The yield on the benchmark 10-year Japanese government bond was unquotd in early trading. On Monday, it settled at 1.2900 percent and its price stood at 100.95.
On the Net:
Tokyo Stock Exchange: http://www.tse.or.jp