Source Pravda.Ru

Dollar lower against yen

Japanese stocks rose Wednesday morning as traders bought shares of companies linked to commodities such as oil. The dollar was lower against the yen.

The Nikkei 225 index rose 42.08 points, or 0.32 percent, to 13,322.70 points on the Tokyo Stock Exchange during the first half hour of trading. The index jumped 174.44 points, or 1.33 percent, the day before.

The broader TOPIX, which includes all issues on the first section, added 3.23 points, or 0.23 percent, to 1,396.84 points. The TOPIX rose 17.11 points, or 1.24 percent, Tuesday.

Stocks extended gains from Tuesday as traders bought shares in mining companies and those linked to commodities such as oil. Retail, financial, real estate and other issues that depend on domestic demand were also performing well.

On Tuesday in New York, stocks closed lower in profit-taking after the previous session's big gain, though the market held on reasonably well despite a surprising drop in consumer confidence which fell to 85 in October, down from 86.6 in September and less than the 88 reading economists had expected.

The Dow fell 7.13, or 0.07 percent, to 10,377.87, having lost more than 68 points earlier in the session and the Nasdaq composite index lost 6.38, or 0.3 percent, to 2,109.45.

The U.S. dollar was trading at 115.18 yen on the Tokyo foreign exchange market at 9 a.m. (0000 GMT) Tuesday, down 0.42 yen from late Tuesday, but above the 115.08 yen it bought in New York later that day.

The euro rose to US$1.2100 from US$1.1961 late Tuesday.

The yield on the 10-year Japanese government bond rose to 1.5550 percent from Tuesday's close of 1.5150. Its price fell 0.35 to 99.52 points, AP reports.

А. А.

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