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Japanese stocks lower in early trade, dollar rises vs yen

Japanese stocks lower in early trade, dollar rises vs yen

Japanese stocks fell Friday morning after briefly touching a 6 1/2 year high a day earlier. The dollar was higher against the yen.
The benchmark Nikkei 225 index fell 92.50 points, or 0.53 percent, to 17,365.80 points on the Tokyo Stock Exchange at the end of morning session. The index shed 49.10 points, or 0.28 percent, to finish at 17,458.30 points Thursday after hitting 17,617.64 _ its highest since July 2000 _ during the session.
The broader Topix index, which includes all shares on the exchange's first section, fell 7.61 points, or 0.44 percent, to 1,721.79 points Friday. It fell 9.21 points, or 0.53 percent, the day before.
Stocks opened lower Friday after Wall Street suffered its biggest pullback in two months overnight. Dow Jones industrials logged a triple-digit decline as a disappointing bond auction and a lackluster report on sales of existing homes halted the market's two-day rally.
The Dow fell 119.21, or 0.94 percent, to 12,502.56. The Nasdaq composite index was down 32.04, or 1.30 percent, at 2,434.24.
Japanese traders sold issues sensitive to domestic demand such as real estate and retail as the government announced Japan's core consumer price index rose 0.1 percent on year in December. Although it marked a seventh straight month of increases, the figure was below an average forecast for 0.2 percent growth by economists polled by Dow Jones Newswires and Nikkei News.
In currencies, the dollar was trading at 121.41 yen at 10:50 a.m. (0150GMT) Friday, up from 121.11 yen late Thursday in New York. The euro fell to US$1.2924, from US$1.2928.


Updated : 2021-08-01 10:01 GMT+08:00