25 April 2005, 09:47  Tokyo Stocks higher, Dollar down against Yen

Tokyo stocks edged up Monday morning following a weekend free of any major anti-Japanese protests in China. The U.S. dollar was down against the yen but higher versus the euro. The Nikkei Stock Average of 225 selected issues rose 38.56 points, or 0.35 percent, to end morning trade at 11,084.51 points. The dollar was trading at 105.86 yen at 11 a.m. Monday, down 0.66 yen from late Friday in Tokyo and below the 106.01 yen it bought in New York later that day. On the stock market, shares got an early boost after there were no major anti-Japanese protests in China. Violent demonstrations, as well as boycotts of Japanese goods, had erupted in Beijing and other Chinese cities earlier this month, especially on weekends, leading to concern that Japanese companies with operations there would suffer lower profits. Many Japanese manufacturers are heavily reliant on their Chinese factories, while many companies view China as a key consumer market. In New York on Friday, stocks fell as investors dealt with disappointing earnings in the consumer sector and rising oil prices. The Dow Jones industrial average fell 60.89, or 0.6 percent, to 10,157.71.

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