Tokyo stocks close Higher Wednesday

  • Business
  • Wednesday, 23 Jul 2003

TOKYO (AP) - Tokyo stocks finished higher Wednesday following solid gains by U.S. technology stocks overnight. 

The dollar was lower against the Japanese yen. 

The Nikkei Stock Average of 225 selected issues on the Tokyo Stock Exchange closed up 129.37 points, or 1.36 percent, at 9,615.34. 

The index lost 41.76 points, or 0.44 percent, Tuesday. 

On the Tokyo foreign exchange market, the dollar was trading at 119.04 yen at 3 p.m. (0600 GMT), down 0.16 yen from late Tuesday in Tokyo and slightly below the 119.06 yen it bought in New York late Tuesday. 

On the stock market, the benchmark Nikkei made solid gains after getting a boost from U.S. technology stocks overnight, which rose following better-than-expected earnings from Texas Instruments and a string of upgrades within the sector from Lehman Brothers. 

Local chipmakers Advantest and Tokyo Electron ended the day up. Other export-related blue chip issues also benefited, including Kyocera, Sony and automakers Honda, Nissan and Toyota. 

In New York overnight, the tech-heavy Nasdaq composite index rose 24.69 points, or 1.5 percent, to 1,706.10. The Dow Jones industrial average finished up 61.76 points, or 0.7 percent, at 9,158.45. 

On Wednesday, the broader Tokyo Stock Price Index finished up 13.08 points, or 1.41 percent, at 941.26.  

The TOPIX, which includes more than 1,000 of Japan's largest companies, slipped 4.92 points, or 0.53 percent, Tuesday. 

In other currency trading, the euro bought US$1.1365 Wednesday afternoon in Tokyo, up from US$1.1348 late Tuesday. 

Against the yen, the euro was quoted at 135.21 yen, down from 135.36 yen.The yield on the benchmark 10-year bond stood at 0.9600 percent Wednesday afternoon, up from 0.9550 percent late Tuesday. 

Its price slipped 0.05 to 99.45 points.- AP 

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