11 March 2005, 09:58  Tokyo Stocks Rise in Morning Trade on Gains by Technology; Dollar Up Against Yen, Euro

Tokyo stocks rose Friday morning on gains by technology and banking issues. The dollar was trading higher against the Japanese yen and the euro.
The Nikkei Stock Average of 225 selected issues gained 69.80 points, or 0.59 percent, to 11,934.71 points in the morning session. The index lost 101.78 points, or 0.85 percent, on Thursday.
The dollar was trading at 104.01 yen at 11 a.m. Friday, up 0.13 yen from late Thursday in Tokyo but below the 104.04 yen it bought in New York later that day.
Technology stocks were given a boost after U.S. microprocessor maker Intel Corp. on Thursday reported a slight upgrade of its revenue and profit margin outlook. Local chip makers Advantest Corp. and Tokyo Electron Ltd. ended the morning session higher.
Banking issues, including Sumitomo Mitsui Financial Group and Mitsubishi Tokyo Financial Group, were also up.
In New York Thursday, stocks were mixed as investors abandoned riskier shares for safer blue-chip companies, while a sharp drop in oil prices helped limit losses.
The Dow Jones industrial average rose 45.89, or 0.42 percent, to 10,851.51. The tech-heavy Nasdaq composite index lost 1.57, or 0.08 percent, to 2,059.72.
In Tokyo, the broader TOPIX, which includes all issues on the Tokyo Stock Exchange's first section, rose 5.88 points, or 0.49 percent, to 1,201.31 points. The TOPIX shed 5.20 points, or 0.43 percent, the day before.
In currencies, the euro fell to $1.3431 in Tokyo from $1.3437 late Thursday and to 139.74 yen from 139.75 yen.

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