9 May 2005, 09:47  Tokyo stocks fall, dollar up against the yen and the euro

Tokyo stocks fell Monday morning as investors took profits from gains last week. The U.S. dollar was up against the yen and the euro. The Nikkei Stock Average of 225 selected issues lost 58.81 points, or 0.53 percent, to end morning trade at 11,133.36 points. The index gained 190.06 points, or 1.70 percent Friday. The dollar was trading at 105.24 yen at 11 a.m. Monday, up 0.49 yen from late Friday in Tokyo and also above the 104.92 yen it bought in New York later that day. On the stock market, prices started higher on a rise Friday in the main U.S. stock index, but fell back later in the morning on profit taking from last week's gains. The broader TOPIX, which includes all issues on the Tokyo Stock Exchange's first section, dipped 3.25 points, or 0.28 percent, to 1,147.51 points. The TOPIX rose 18.96 points, or 1.65 percent on Friday. Wall Street ended mixed Friday as a surprisingly strong employment report raised confidence in the strength of the job market and economic growth but also raised fears of inflation. The Dow Jones industrial average rose 5.02, or 0.05 percent, to 10,345.40. The Nasdaq composite index gained 5.55, or 0.28 percent, to 1,967.35, but the Standard & Poor's 500 index was down 1.28, or 0.11 percent, at 1,171.35. In Tokyo's currency trading, the dollar held steady after strengthening in New York on Friday after strong April non-farm payrolls data. The euro dipped to $1.2804 Monday morning in Tokyo from $1.2949 late Friday and to 134.81 yen from 135.61 yen.

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