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TOKYO (AP) _ Tokyo stocks fell Thursday morning as investors were unfazed by news of a U.S. interest rate cut and took profits on sharp gains this week. The dollar fell against the yen.

The benchmark 225-issue Nikkei Stock Average fell 59.97 points, or 0.67 percent, at 8,893.32 at midday. The Nikkei gained 15.73 points, or 0.18 percent, at 8,953.29 Wednesday.

The dollar was trading at 121.92 yen on the Tokyo foreign exchange market at 11 a.m. Thursday, down 0.52 yen from late Wednesday, but above its trading level of 121.78 yen in New York late Wednesday.

Technology giants NTT DoCoMo and Sony were big losers in Thursday morning trading on the stock market, which did not see a boost from news of an unexpected half-point interest rate cut overnight by the U.S. Federal Reserve.

Signals were unclear from Wall Street, where investors appeared unable to decide whether the Fed's move was a sign of economic trouble or a positive step worth betting on. On Wednesday the Dow Jones industrial average rose 92.74, or 1.1 percent, to 8,771.01 and the tech-heavy Nasdaq composite index gained 17.82, or 1.3 percent, to 1,418.99.

In other Tokyo trading Thursday morning, the broader Tokyo Stock Price Index of all issues on the first section of the Tokyo Stock Exchange was down 3.94 points, or 0.45 percent, at 879.29. The Topix ended down 2.11 points, or 0.23 percent, at 883.23 Wednesday.

The yield on the benchmark 10-year government bond was 0.9900 Thursday morning, up from 0.9750 at Wednesday's close. Its price was down 0.14 at 100.98.

The euro traded at 122.42 yen Thursday morning, up from 121.97 yen late Wednesday. The euro traded at 100.44 cents, up from 99.58 cents late Wednesday.


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