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HMC ,,, Tokyo Stocks Fall; Dollar Up Vs. Yen
Wednesday May 11, 11:47 pm ET
Tokyo Stocks Fall as Blue Chip Shares Dip in Cautious Trading; Dollar Up Against Yen, Euro


TOKYO (AP) -- Tokyo's benchmark stock index fell slightly Thursday morning as blue chips declined in cautious trading. The dollar was higher against the yen and the euro.
The Nikkei Stock Average of 225 selected issues fell 11.34 points, or 0.10 percent, to 11,109.36 points Thursday morning. The index lost 38.76 points, or 0.35 percent, on Wednesday.

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The dollar was trading at 106.13 yen at 11 a.m. Thursday, up 0.55 yen from late Wednesday and above the 105.74 yen it bought in New York later that day.

The broader TOPIX, which includes all issues on the Tokyo Stock Exchange's first section, lost 1.91 points, or 0.17 percent, to 1,145.39 points. The TOPIX shed 8.07 points, or 0.70 percent, on Wednesday.

Blue chips such as electronics firms, automakers and major banks were mostly weaker Thursday morning, including Toyota Motor Corp. and Honda Motor Co., Ltd. The market, however, moved in a tight band, with traders cautious ahead of the release of economic data on Friday.

The Dow Jones industrial average on Wednesday rose 19.14, or 0.19 percent, to 10,300.25. The Nasdaq composite index gained 8.78, or 0.45 percent, to 1,971.55.

A drop in oil prices pushed U.S. stocks higher. A barrel of light crude settled at $50.45, down $1.62, on the New York Mercantile Exchange. However, Wall Street's mood remained tentative amid uncertainty about the economy.

In currency trading in Tokyo, the euro dipped to $1.2794 early Thursday from $1.2892 and to 135.80 yen from 136.08 yen.

The yield on the benchmark 10-year Japanese government bond rose to 1.2850 percent from Wednesday's finish of 1.2750 percent. Its price fell 0.08 point to 100.13 points.





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