Tokyo Stocks Rise Moderately
Oct. 16, 2001
TOKYO (AP) _ Tokyo stocks rose moderately Tuesday, offsetting early losses. The U.S. dollar slipped against the yen.
The benchmark 225-issue Nikkei Stock Average gained 185.28 points, or 1.77 percent, to end at 10,637.82 after falling slightly at the start of trading. On Monday, the average closed down 179.81 points, or 1.7 percent.
The dollar bought 120.72 yen in midafternoon trading, down 0.26 yen from late Monday in Tokyo and below its late New York level of 120.96 yen overnight.
On the stock market, the Nikkei started slightly lower as investors looked for fresh incentives amid a lack of fresh news. The Nikkei later moved into positive territory with some buying of technology issues and pharmaceutical stocks.
In New York, the Dow Jones industrial average gained 3.46 to 9,347.62 at Monday's close. The Nasdaq composite index finished at 1,696.31, down 7.09.
The broader Tokyo Stock Price Index of all issues listed on the first section gained 6.38 points, or 0.60 percent, to 1,078.16 Tuesday. The TOPIX closed down 15.70 points, or 1.44 percent, the day before.
In currency dealings, the dollar slipped in line with its overnight trend in New York amid lingering concerns over the U.S. economy and security in the face of new terrorist scares.
In other currencies, the euro was traded at 109.43 yen, down from 110.14 yen late Monday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.3500 percent from Monday's finish of 1.3800 percent. Its price rose 0.26 point to 100.43.
On the Net:
Japan's Tokyo Stock Exchange: http://www.tse.or.jp