25 September 2002, 09:05  Tokyo stocks lower, dollar weaker against yen

/www.fxserver.com/ TOKYO (AP) -- Tokyo stocks fell Wednesday morning after a dismal showing overnight on Wall Street, where blue chip stocks sank to a four-year low amid disappointing earnings news. The dollar fell against the yen.
The benchmark 225-issue Nikkei Stock Average was down 30.61 points, or 0.3 percent, at 9,291.03 points at the end of the morning session Wednesday. The average closed down 159.44 points, or 1.68 percent, at 9,321.64 points Tuesday.
The dollar was trading at 122.62 yen on the Tokyo foreign exchange market at 11 a.m. Wednesday, down 0.82 yen from late Tuesday and below its New York trading level late Tuesday of 123.33 yen.
Shares of Honda, Toyota, Nintendo, and Ricoh were lower on the stock market.
On Wall Street, the Dow Jones industrial average fell 189.02, or 2.4 percent, to close at 7,683.13 on disappointing earnings news and a criminal investigation into Xerox's accounting practices. The blue chips fell to their lowest close since Oct. 1, 1998, when they stood at 7,632.50.
The broader Tokyo Stock Price Index fell 5.54 points, or 0.6 percent to 910.50 midday Wednesday. The TOPIX fell 10.74 points, or 1.2 percent, to close at 916.04 Tuesday.
The euro traded at 120.49 yen midday Wednesday, down from 120.58 yen late Tuesday in Tokyo. Against the dollar, the euro was quoted at 98.22 cents, up from 97.73 cents late Tuesday.
The yield on the benchmark 10-year government bond fell to 1.2400 percent from 1.2750 percent Tuesday. Its price rose 0.31 to 99.64.

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