18 October 2002, 09:01  Tokyo stocks higher midday, dollar stronger against yen

/www.fxserver.com/ TOKYO (AP) -- Tokyo stocks climbed back above the 9,000 point mark Friday morning after a rise in U.S. share prices and positive earnings reports from several prominent high-tech firms. The dollar was up against the Japanese yen.
The benchmark 225-issue Nikkei Stock Average climbed 174.92 points, or 1.95 percent, to 9,134.80 at midday Friday. On Thursday, the Nikkei rose 75.01 points, or 0.84 percent, to close at 8,959.88.
The dollar was trading at 125.04 yen at 11 a.m. Friday, up 0.66 yen from late Thursday in Tokyo. It was also above its late New York level of 124.87 yen.
In New York Thursday, the Dow Jones industrial average surged 239.01, or 3 percent, to close at 8,275.04 after another wave of positive earnings news from companies such as Microsoft, IBM and Nokia. Since Oct. 9, U.S. blue-chip stocks have surged 989 points.
Tokyo shares got another boost from the upbeat earnings of high-technology bellwethers Microsoft and Sun Microsystems, which were both announced after the New York closing bell.
High-technology issues such as Advantest, Hitachi, Kyocera and Sony led local shares higher in the morning session.
The Tokyo Stock Price Index of all issues on the first section gained 11.45 points, or 1.29 percent, to 892.33 at midday Friday. The TOPIX gained 4.88 points, or 0.56 percent, to 881.45 Wednesday.
The euro traded at 121.52 yen, up from 121.32 yen late Thursday in Tokyo. Against the dollar, the euro was quoted at 97.18 cents, down from 97.63 cents.
The yield on the benchmark 10-year government bond climbed to 1.0850 early Friday from 1.0700 late Thursday. Its price fell 0.14 to 101.02.

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