Tokyo stocks Rise
Jun. 16, 2000
TOKYO (AP) _ Tokyo stocks rose Friday morning on buying of technology issues following an overnight advance on Wall Street. The U.S. dollar slipped against the yen.
The benchmark 225-issue Nikkei Stock Average gained 75.06 points, or 0.46 percent, to 16,413.76 points at the end of the morning session. On Thursday, the average closed down 315.72 points, or 1.90 percent.
The dollar bought 106.56 yen at late morning, down 0.08 yen from late Thursday in Tokyo and also lower than its late New York level of 106.59 yen overnight.
On the stock market, prices bounced back slightly with buying of high technology and information technology issues leading the way.
The broader Tokyo Stock Price Index of all issues listed on the first section was up 10.13 points, or 0.67 percent, to 1,517.56 points. The TOPIX closed down 37.22 points, or 2.41 percent, the day before.
In New York, the Dow Jones industrial average gained 26.87 points to 10,714.82 points at Thursday's close. The Nasdaq composite index rose 48.33 points to close at 3,845.74.
In currency dealings, the dollar remained in a narrow range as many traders were holding back in the absence of major market-moving news.
In other currencies, the euro was traded at 101.62 yen, up from 101.38 yen late Thursday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.6550 percent from Thursday's finish of 1.6600 percent. Its price rose 0.04 point to 100.37.
On the Net:
Japan's Tokyo Stock Exchange: http://www.tse.or.jp./