Tokyo Stocks Lower at Midday
TOKYO (AP) _ Tokyo’s benchmark stock index slipped Friday morning following a decline on Wall Street. The dollar was lower against the yen.
The 225-issue Nikkei Stock Average shed 53.41 points, or 0.34 percent, to 16,045.85 points at the end of the morning session. On Thursday, the average closed down 49.82 points, or 0.31 percent.
The dollar bought 108.94 yen in late morning, down 0.22 yen from late Thursday in Tokyo and below its late New York level of 109.16 yen.
On the stock market, share prices started lower after a 51.00-point fall in the technology-rich Nasdaq composite index, which finished at 3,472.10 on Thursday. The Dow Jones industrial average lost 59.56 points to close at 10,724.92.
The broader Tokyo Stock Price Index of all issues listed on the first section was up 0.60 points, negligible in percentage terms, to 1,508.03. The TOPIX closed down 4.77 points, or 0.32 percent, the day before.
In currency dealings, the dollar edged lower on selling considered a correction to its recent rally against the yen.
Earlier this week, the dollar hit a seven-week high of 109.40 yen in global trading amid uncertainty over Japan’s economy.
In other currencies, the euro was traded at 94.63 yen, down from 95.46 yen late Thursday in Tokyo.
The yield on the benchmark 10-year Japanese government bond rose to 1.82 percent from Thursday’s finish of 1.805 percent. Its price fell 0.13 point to 100.68.
On the Net: Tokyo Stock Exchange: http://www.tse.or.jp