/www.fxserver.com/ TOKYO (AP) -- Japanese stocks edged lower Thursday morning following a steep decline in blue-chip stocks on Wall Street. The dollar also fell against the Japanese yen.
The Nikkei Stock Average of 225 issues was down 48.11 points, or 0.61 percent, at 7,831.38 points. On Wednesday, the Nikkei rose 40.66 points, or 0.52 percent.
The dollar was trading at 119.40 yen at 11 a.m., down 0.82 yen from Wednesday in Tokyo and below the 119.42 yen it bought in late New York trading.
On the stock market, Tokyo investors were discouraged by Wednesday's decline in U.S. blue-chip stocks -- the steepest in more than two weeks.
Multinational blue-chips in Japan followed suit, with Sony and Canon ending the morning session down.
The Tokyo Stock Price Index lost 1.51 points, or 0.19 percent, at 787.45 points. The TOPIX, which includes more than 1,000 of Japan's largest and most prestigious companies, gained 0.72 point, or less than 0.01 percent, Wednesday.
In New York, the Dow Jones industrial average closed down 144.75, or 1.7 percent, at 8,257.61 -- its biggest fall since March 31, when blue-chips finished 153 points lower.
In currency trading, the euro bought $1.0914 Thursday morning, up from $1.0842 late Wednesday. Against the yen, the euro traded at 130.34 yen, down from 130.38 yen.
The yield on Japan's benchmark 10-year government bond was unchanged from Wednesday's close of 0.6550 percent and priced at 100.41.