/www.fxserver.com/ TOKYO (AP) -- Tokyo stocks were mixed Tuesday morning, but falling technology shares drove the benchmark blue chip index lower following the dollar's slide against the yen and Wall Street's decline.
The benchmark 225-issue Nikkei Stock Average had declined 27.24 points, or 0.32 percent, to 8,463.16 at midday. On Monday, the index advanced 127.36 points, or 1.52 percent, to 8,490.40.
However, the broader Tokyo Stock Price Index was up 1.14 points, or 0.14 percent, to 826.77 at midday. The TOPIX rose 6.90 points, or 0.84 percent, on Monday.
The dollar was trading at 117.62 yen at 11 a.m. Tuesday, down 0.46 yen from late Monday in Tokyo but slightly above its late New York level of 117.58 yen.
The Nikkei slid at the open, as investors took the yen's strength and U.S. stock declines as a good opportunity to pocket profits following Tokyo's three-session rise.
Export-dependent technology heavyweights were mostly lower, with Fujitsu, Hitachi, Sony and Advantest all posting early losses. The yen's strength has hit shares of Japanese exporters in recent weeks. A stronger yen makes Japanese exports more expensive and less competitive abroad. It also means lower corporate profits when money earned overseas is converted to yen.
On Wall Street Monday, weaker-than-expected economic data and market anxiety about a war with Iraq made for choppy trading, with stocks ultimately turning lower at the close.
The Dow Jones industrial average gave up early gains to close down 53.22, or 0.7 percent, at 7,837.86. The technology-rich Nasdaq composite index fell 17.23, or 1.3 percent, to 1,320.29.
In the currencies market, the dollar remained weak against the yen, and traders said they were on guard for possible intervention by Japanese financial authorities to halt the yen's sharp appreciation. Worries about a U.S. war with Iraq has driven the dollar lower recent weeks.
The euro bought 128.24 yen midday Tuesday in Tokyo, up from 127.46 yen late Monday. Against the dollar, it traded at $1.0900, up from $1.0794.
The yield on Japan's benchmark 10-year government bond was quoted at 0.7750 percent, down from 0.7800 percent late Monday. Its price rose 0.04 to 100.22.