7 December 2004, 11:17  Tokyo Stocks Close Lower, Dollar Up against Yen, Euro

Tokyo stocks slipped Tuesday morning following an overnight weakness in Wall Street's main index. The U.S. dollar was up against the Japanese yen and the euro.
The Nikkei Stock Average of 225 issues dipped 27.95 points, or 0.25 percent, to end Tuesday's morning trading at 10,954.01. On Monday, the index lost 92.93 points, or 0.84 percent.
The dollar was trading at 103.05 yen at 11 a.m. in Tokyo, up 0.68 yen from late Monday but below the 103.31 yen it bought in New York later that day.
On the stock market, investors took a wait-and-see stance as they looked for fresh market-moving news.
Technology blue chips, including Matsushita Electric Industrial Co., NEC Corp. and Toshiba Corp., fell Tuesday morning.
U.S. stocks ended mixed Monday amid oil supply concerns and broker downgrades of blue-chip companies. The Dow Jones industrial average fell 45.15, or 0.43 percent, to 10,547.06, while the Nasdaq composite index gained 3.29, or 0.15 percent, to 2,151.25.
In Tokyo Tuesday morning, the index of all issues on the Tokyo Stock Exchange's first section lost 2.92 points, or 0.26 percent, to 1,100.78 points. The TOPIX fell 6.83 points, or 0.62 percent, the day before.
In Tokyo's currency trading, the dollar remained stable against the yen and the euro following its gains Monday in New York.
Tuesday morning in Tokyo, the euro was down at $1.3405 from $1.3441 late Monday, but above the $1.3393 in New York later that day. Against the yen, the euro rose to 138.14 yen from 137.65 yen.
In bond trading, the yield on Japan's benchmark 10-year government bond was unchanged at 1.4400 percent from Monday's finish. Its price remained at 100.52 points.

© 1999-2024 Forex EuroClub
All rights reserved