25 September 2002, 16:27  Tokyo stocks end lower, dollar weaker against yen

TOKYO (AP) -- Tokyo stocks sank Wednesday for their third straight session after a dismal showing overnight on Wall Street, where blue chip stocks fell to a four year low on disappointing earnings news. The dollar weakened against the yen. The benchmark 225-issue Nikkei Stock Average lost 156.23 points, or 1.68 percent, to close at 9165.41 Wednesday. The index slid 159.44 points, or 1.68 percent, to 9,321.64 Tuesday.
The dollar bought 122.56 yen on the Tokyo foreign exchange market at 3 p.m. (2 a.m. EDT) Wednesday, down 0.88 yen from late Tuesday and below its New York trading level late Tuesday of 123.33 yen. On the stock market, the Nikkei turned lower, following the slump in U.S. equities overnight. Traders also said investor selling in Tokyo continues partly because the Japanese government has been slow to come up with an economic package to match the Bank of Japan's radical plan to speed banks' bad loan write offs by buying some of the stockholdings.//www.nj.com

© 1999-2024 Forex EuroClub
All rights reserved