Tokyo Stocks Fall 11 Points
Nov. 12, 2002
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TOKYO (AP) _ Tokyo share prices fell marginally Tuesday morning amid concern about the fallout of a possible U.S. war with Iraq. The dollar was lower against the yen.
The benchmark 225-issue Nikkei Stock Average shed 10.62 points, or 0.12 percent, to end morning trading at 8,449.75. The Nikkei dropped 230.40 points, or 2.65 percent, to 8,460.37 Monday.
The dollar bought 119.68 yen at 11 a.m., down 0.22 yen from late Monday, but above its trading level of 119.52 yen in New York.
On the stock market, major banks Mizuho Holdings, Mitsubishi Tokyo Financial Group, and UFJ were heavily sold in morning trading.
Sellers took their cue from Wall Street, where investors worried about market risks associated with a possible war with Iraq locked in profits on Monday. The Dow Jones industrial average fell 2.1 percent to 8,358.95, and the technology-heavy Nasdaq composite index dropped 3 percent to 1,319.19.
But buying by public pension funds likely supported the Tokyo market Tuesday morning, the traders said.
The broader Tokyo Stock Price Index of all issues on the first section of the Tokyo Stock Exchange closed morning trading down 1.64 points, or 0.20 percent, at 835.55. The Topix fell 25.30 points, or 2.93 percent, to 837.19 Monday.
The yield on the benchmark 10-year government bond was 0.9600 percent in morning trading, up from 0.9550 percent late Monday. Its price was down 0.05 at 101.25.
The euro traded at 120.74 yen Tuesday morning, down from 121.26 yen late Monday. Against the dollar, the euro was at 100.90 cents, down from 101.26 cents late Monday.
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Tokyo Stock Exchange: http://www.tse.or.jp