/www.fxserver.com/ TOKYO (AP) -- Tokyo stocks fell Thursday morning following declines on Wall Street amid concerns about a war in Iraq. The dollar slipped against the Japanese yen.
The benchmark 225-issue Nikkei Stock Average slid 74.27 points, or 0.86 percent, to stand at 8,604.17 midday. On Wednesday, the average slipped 14.53 points, or 0.17 percent, to close at 8,678.44.
The dollar bought 118.88 yen at 11 a.m., down 0.15 yen from late Wednesday in Tokyo, but above its level of 118.60 yen in New York late Wednesday.
New York's losses prompted local investors to unload holdings in Tokyo's high-technology blue chips, sending Canon, Hitachi, NEC and Rohm all lower.
Shares in Japan's four largest banks were also weaker, further damaging market sentiment amid still unsettled concerns about the health of the country's financial system.
Sumitomo Mitsui Financial, Mitsubishi-Tokyo Financial, UFJ, and Mizuho Holdings all wrapped up the morning session lower.
The broader Tokyo Stock Price Index of all first-section issues fell 6.33 points, or 0.75 percent, to 847.26 midday Thursday. The TOPIX declined 3.11 points, or 0.36 percent, to 853.59 Wednesday.
In New York Wednesday, stocks fell as investors worried that unresolved questions about Iraq would stifle corporate spending critical to the economic recovery. The Dow Jones industrial average slid 40.55, or 0.5 percent, to close at 8,000.60.
On Wednesday, U.N. weapons inspectors hunted for banned Iraqi missiles, visiting at least three sites. The United States and Britain say they plan to press this week for a U.N. Security Council resolution authorizing the use of force to disarm Iraq.
The euro bought 127.86 yen late Thursday morning in Tokyo, up from 127.54 yen late Wednesday. Against the dollar, it traded at $1.0754, up from $1.0716.
The yield on Japan's benchmark 10-year government bond rose to 0.8750 percent late Thursday morning from 0.8650 percent late Wednesday. Its price fell 0.09 to 99.32.