16 May 2005, 12:28  Tokyo stocks finished lower

Tokyo stocks finished lower Monday in broad selling as investors grew cautious ahead of Japan's economic data due out this week. The U.S. dollar was up against the yen and the euro. The Nikkei Stock Average of 225 selected issues fell 101.89 points, or 0.92 percent, to close at 10,947.22 points. The index lost 28.83 points, or 0.26 percent, on Friday. The dollar was trading at 107.64 yen at 3 p.m. Monday, up 0.73 yen from late Friday in Tokyo and also above the 107.37 yen it bought in New York later that day. On the stock market, the mood was cautious in Tokyo ahead of Tuesday's announcement of gross domestic product data for the January to March period. Major banks, including Mitsubishi Tokyo Financial Group Inc. and UFJ Holdings Inc., fell. Most tech issues were down. The broader TOPIX, which includes all issues on the Tokyo Stock Exchange's first section, shed 11.45 points, or 1.01 percent, to finish Monday's trading at 1,123.37. The TOPIX shed 5.67 points, or 0.50 percent, on Friday.

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