Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (10763)	7/31/2003 12:56:09 AM
From: StanX Long	Read Replies (1) \| Respond to of 95472

More bad news from Japan, Stan. Tokyo Stocks Open Lower; Dollar Rises 1 hour, 48 minutes ago Add Business - AP to My Yahoo! story.news.yahoo.com TOKYO - Tokyo stocks sank Thursday morning as investors sold technology issues in an aftershock of grim earnings reports from Japanese electronics giants the day before. The dollar rose against the Japanese yen The Nikkei Stock Average of 225 selected issues on the Tokyo Stock Exchange lost 199.23 points, or 1.04 percent, to end morning trading at 9,532.43. The index fell 201.65 points, or 2.05 percent, on Wednesday. On the Tokyo foreign exchange market, the dollar was trading at 120.12 yen at 11 a.m., up 0.12 yen from late Wednesday in Tokyo but below the 120.27 yen it bought later in New York. Stock prices in Tokyo headed lower at the open, as investors cued off Wall Street's losses. Prices fell further at midmorning on selling of technology issues. On Wednesday, Matsushita Electric Industrial Co. reported a 22 percent plunge in profits for the first fiscal quarter and Toshiba Corp.'s losses nearly doubled from a year ago as diving prices continued to hit Japanese electronics makers. Matsushita Electric, Toshiba and Sony were among the losers pushing down the index Thursday morning. U.S. stocks fell modestly Wednesday after bearish comments from Intel and a profit warning from Pier One Imports. The Dow Jones industrial average closed down 4.41, or 0.1 percent, at 9,200.05. The broader Nasdaq composite index fell 10.46, or 0.6 percent, to 1,720.91. At Thursday's open, the broader Tokyo Stock Price Index was down 9.95 points, or 1.05 percent, at 934.36 at late morning. The TOPIX, which includes more than 1,000 of Japan's largest companies, lost 13.87 points, or 1.45 percent, the day before. In currencies, the euro bought $1.1344 at late morning Thursday, down from $1.1432 late Wednesday. Against the yen, the euro was quoted at 136.16 yen, down from 137.10 yen late Wednesday. The yield on the benchmark 10-year bond fell to 0.9450 percent early Thursday from 0.9500 percent late Wednesday. Its price rose 0.09 to 99.59 points.