22 November 2005, 12:29  Japanese stocks mixed

Japanese stocks were mixed Tuesday morning as auto and oil issues gained, but banks and technology shares dropped as investors sold stocks that have surged in recent weeks. The Nikkei 225 index rose 19.06, or 0.19 percent, to 14,699.49 points, after hitting a high of 14,726 points on the Tokyo Stock Exchange in morning trading. On Monday, the market rose to 14,680.43, its highest level since December 2000. But the broader market declined, with banks and technology stocks falling. The TOPIX index, which includes all issues on the exchange's first section, slipped 3.22 points, or 0.21 percent, to 1,524.34. Toshiba Corp. plunged 6.8 percent to 626 yen ($5.26) after it had surged 12.8 percent over past five sessions. Sentiment was bouyed by Wall Street's moderate gains Monday. The Dow Jones industrial average rose 53.95, or 0.5 percent, to 10,820.28, the index's highest level since early March. In currency trading, the dollar was trading at 119.13 yen on the Tokyo foreign exchange market at 11 a.m. Tuesday, up 0.21 yen from late Monday in New York. The dollar rose to a 27-month high of 119.58 yen last week. The euro fell to $1.1728 from $1.1776 late Monday in New York.

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