Tokyo Stocks Fall, Dollar Lower
MARCH 11, 22:18 ET
wire.ap.org
TOKYO (AP) — Stocks fell Tuesday morning on profit-taking in reaction to recent sharp gains. The dollar was lower against the yen.
The benchmark 225-issue Nikkei Stock Average lost 126.53 points, or 1.06 percent, to 11,792.77 at the end of morning trading. On Monday, the average rose 33.51 points, or 0.28 percent.
The dollar bought 128.68 yen in late morning trading, down 0.34 yen from late Monday in Tokyo but above its late New York level of 128.18 yen.
On the stock market, the Nikkei index slipped as investors cashed in Tuesday morning after the index gained more than 26 percent since Feb. 6, when it hit an 18-year-old low of 9,420.85 points.
In New York, the Dow Jones industrial average rose 38.75 points to 10,611.24 at Monday's close. The Nasdaq composite index ended at 1,929.49, down 0.18.
The broader Tokyo Stock Price Index of all issues listed on the first section of the Tokyo Stock Exchange was down 10.43 points, or 0.93 percent, to 1,115.00 Tuesday morning. The TOPIX gained 17.30 points, or 1.56 percent, the day before.
In currency dealings, the dollar was lower amid continued buying of the yen in line with its overnight trend in New York on Monday. |
