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Stocks, Dollars Fall On Tokyo Markets

September 6, 1988

TOKYO (AP) _ The dollar lost ground today, while share prices edged down on the Tokyo Stock Exchange.

The dollar closed lower at 135.60 yen, down 0.43 yen, following Monday’s loss of 0.72 yen. The currency moved in a range of 135.40-136.25 yen with spot trading estimated at $7.8 billion.

Although the dollar lost ground the second time this week, the dollar- selling drive was not strong, said a stock dealer at Daiwa Securities in Tokyo.

″Although some investors sold the dollar to buy more yen, the dollar- selling drive was not strong enough to let the rate go below the 135.5-yen level,″ the dealer said.

″In addition, the (foreign exchange) market had less participants today in a wait-and-see mood,″ he added, speaking on condition of anonymity.

The Nikkei Stock Average of 225 selected issues suffered a slight setback following a 146.67-point loss Monday, and dropped another 21.07 points from Monday’s close of 27,341.58.

The market’s main index gained 107.90 points as soon as the trading began, but it could not keep the winning trend and gradually fell lower to close at 27,320.51.

Toshiyuki Nishiguchi of Daiwa Securities in Tokyo said many investors are already in a cautious mood waiting for the scheduled U.S. trade figure for July next week.

In thin trading of 500 million shares, issues related to pharmacauticals attracted participants.

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