Tokyo stocks sharply lower
By CBS.MarketWatch.com
Last Update: 10:00 PM ET July 10, 2002
marketwatch.com;
TOKYO (CBS.MW) -- Stocks were sharply lower Thursday morning as Japanese investors dumped blue-chip tech shares following major declines in U.S. stock averages overnight.
The benchmark Nikkei average was down more than 1.5 percent at 10,584. On Wednesday, the key gauge fell 1.89 percent. The broader Topix fell 1.38 percent to 1,022 Thursday.
In New York, The Dow Jones Industrial Average surrendered 282.59 points, or 3.1 percent, to 8,813.50. The Nasdaq Composite sagged 35.11 points, or 2.5 percent, to 1,346.01 and the Nasdaq 100 Index relinquished 31.18 points, or 3.1 percent, to 959.05.
In Tokyo Thursday, Consumer electronics makers such as Sony (SNE: news, chart, profile) led the way lower, slipping as much as 1.48 percent at midmorning to 6,010 yen. NTT DoCoMo (DCM: news, chart, profile), the largest mobile-phone operator, fell 1.9 percent to 266,000. Toyota (TM: news, chart, profile) fell dropped 0.3 percent to 3,000 won.
The dollar was quoted at 117.66 yen in morning trade in Tokyo, compared to 118.10 yen late Wednesday.
Elsewhere in the Asia-Pacific region, South Korea's Kospi index fell 2.2 percent and New Zealand's Top 40 Index shed 0.8 percent. |
