The Tokyo stock market's main index inched higher
Tuesday morning in thin trading. The dollar was stronger against
The benchmark 225-issue Nikkei Stock Average gained 1.31 points,
or 0.008 percent, to 16,155.22 at the end of the morning session.
On Monday, the average closed up 36.41 points, or 0.23 percent.
The dollar bought 109.45 yen in late morning, up 0.71 yen from
late Monday in Tokyo but below its late New York level of 109.51
On the stock market, the Nikkei opened slightly higher after
technology issues, including Sony, rose in line with higher tech
stocks in New York on Monday.
But profit-taking later reduced much of the Nikkei's early gains
as trading remained subdued because of Japan's "obon'' summer
In New York, the Dow Jones industrial average rose 148.34 points
to 11,176.14 at Monday's close. The tech-laden Nasdaq composite
index closed at 3,849.69, up 60.22.
The broader Tokyo Stock Price Index of all issues listed on the
first section was down 2.53 points, or 0.17 percent, to 1,490.90.
The TOPIX closed up 2.54 points, or 0.17 percent, the day before.
In currency dealings, the dollar carried over much of its
overnight strength in New York, where the yen weakened after the
release of a Japanese report showing a 21.4 percent rise in Japan's
corporate bankruptcies for July.
A total of 1,617 companies declared bankruptcy in July because
of a slump in personal consumption and a decline in public
spending, said Teikoku Data Bank, a private research agency.
In other currencies, the euro was traded at 99.20 yen, up from
98.20 yen late Monday in Tokyo.
The yield on the benchmark 10-year Japanese government bond rose
to 1.73 percent from Monday's finish of 1.7200 percent. Its price
fell 0.08 point to 99.74.
On the Net: Tokyo Stock Exchange: http://www.tse.or.jp