here is how japan opened on friday after all that took place
today in that region.
Thursday May 28, 8:46 pm Eastern Time
Tokyo stocks slip at opening on economic gloom
TOKYO, May 29 (Reuters) - Tokyo stocks slipped in early morning trade on Friday after
weakness in the Japanese economy underscored by economic indicators on Thursday prompted
sales of stock futures to buy bond futures, brokers said.
The dollar's further rally above 139 yen, as well as growing tensions in Asia, also helped to depress
Japanese stocks, they said.
At 0014 GMT, the key 225-share Nikkei average was down 164.18 points, or 1.04 percent, at
15,632.37. Nikkei June futures fell 130 points to trade at 15,630.
''Investor sentiment was watered down by the sluggishness in the economy and the situations in
Asia,'' said Kunihiro Hatae, general manager at Tokyo Securities Co Ltd.
Pakistan's decision to conduct nuclear tests has raised tensions in Asia and hit the yen. At 0037
GMT, the dollar stood at 139.08/13 yen against 137.21/26 yen in late Tokyo on Thursday.
Economic data announced on Thursday -- industrial production in April, domestic wholesale price
index for the second 10 days of May and leading economic indicators for March -- all showed that
Japan's economy was still in bad shape.
In the Japanese government bond market, the key June futures contract surged to a record high of
133.77 and the yield on the benchmark cash yen bond fell to a record low of 1.195 percent in early
morning. |
