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Tokyo stocks fall sharply, dollar higher against yen |
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September 23, 2000
TOKYO, SEPT 22 (AP) - Tokyo stocks fell sharply Friday after the technology-heavy Nasdaq composite index on Wall Street weakened overnight. The U.S. dollar was higher against the yen. The benchmark 225-issue Nikkei Stock Average shed 492.80 points, or 3.02 percent, ending the week at 15,818.25. On Thursday, the average closed down 147.26 points, or 0.89 percent. The dollar bought 106.90 yen at 3 p.m. (0600 GMT), up 0.20 yen from late Thursday in Tokyo and also above its late New York level of 106.67 yen overnight. On the stock market, the Nikkei index fell across the board as investor sentiment was hurt by a 68.57-point loss in the Nasdaq composite index, which finished Thursday at 3,828.87. Also in New York, the Dow Jones industrial average gained 77.60 points to 10,765.52 at Thursday's close. Among losers in Tokyo were high technology issues and telecommunications blue chips. The broader Tokyo Stock Price Index of all issues listed on the first section was down 46.78 points, or 3.09 percent, to 1,466.93. The TOPIX closed up 6.94 points, or 0.46 percent, the day before. In currency dealings, investors were limiting major moves ahead of the weekend meeting of the Group of Seven industrialized nations in Prague, the Czech Republic. In other currencies, the euro was traded at 91.70 yen, up from 90.75 yen late Thursday in Tokyo. The yield on the benchmark 10-year Japanese government bond fell to 1.8500 percent from Thursday's finish of 1.9050 percent. Its price rose 0.47 point to 100.42. (km-may-dj) --- On the Net: Japan's Tokyo Stock Exchange: http://www.tse.or.jp
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